Kundalini Lessons - Money

Personal Note: This article is an excerpt from Robert Morgen’s book. It’s more or less a short story of one man’s experience regarding money issues. It has some subtle lessons, or insights, that I believe might resonate with our individual realities. Personally, I love reading and hearing other people’s stories, especially in areas relating to self-development (which include personal finance); I believe stories have ways of making invaluable lessons remain ingrained in our memories.
Pls NOTE: I’m yet to read the entire book(s).


By [http://ezinearticles.com/?expert=Robert_Morgen]Robert Morgen

I've been going through and interesting growth period lately that I thought I'd share, as some of the lessons were pretty profound (at least for me).

I've written before about my awakening and the joys and tribulations since, and I've also mentioned that it's an ongoing process which, as far as I can tell, doesn't really end til you shuffle off this mortal coil. Then you get to come back and start over. :)

The last couple of years or so have been a really interesting period, partly through the guidance and help from both Dr. Glenn Morris and Susan Carlson, and it's interesting how much progress I've made and how far I still have to go.

I've recently come to an interesting new period in my life, thanks mostly to my other half, Anya. Living with her (and my step-son Jake) has opened up new areas and forced me to deal with things that I was always able to avoid before. When you're a modern day gypsy and bouncing around in an old RV it's really easy to have a casual attitude about living in our society, but settling down really brings on the new challenges. Most of what I'm learning now is probably old hat to those of you who've led stable, settled down lives, but it's a hell of an adventure for me, even at my age.

The primary things that I'm dealing with lately are financial. I've always been able to make money, but in the last few months I've come to realize that I've always had bad attitudes about it, and I see the same attitudes reflected over and over from the people around me. It was a big shock for me to realize that much of my attitudes were actually limiting me. It was shocking because most of what I do is about rising above limitations and creating my own realities, then realizing how badly I was doing in this other area.

Susan Carlson mentioned to me several times last year that I could learn a lot from Stuart Wilde's books, and I finally got around to reading "The Secret to Money is Having Some" and I have to admit that she was exactly right! Thanks Susan! :)

I followed that up with "Rich Dad, Poor Dad" (actually I'm deep into the series and spending a lot of time on his website) and what I learned there was just as shocking, so in the hopes that some of you learn easier than I do I'll pass on some new revelations (apparently only new to me, but what the hell).

I grew up in the mountains of North Carolina as a poor country boy and most of the time money was a tool that we just didn't have. Our "reality" was that we had to struggle just to have 'enough to survive'. While the concept of abundance was nothing new to us, we saw our abundance in what we could grow and make rather than what we could buy, and while those skills are definitely valuable, it's a very limiting attitude to have.

So within my 'reality' money wasn't really a tool that was very prominent in my toolbox, even though it was consistently one of the factors that prevented me from doing the things I needed to do.

Many of my attitudes came from the fact that I'm just not interested in money for it's own sake. I'm pretty unimpressed by the people I've met whose primary characteristic seems to be that they have lots of money. Also it's easy to develop bad attitudes when we see the evils done in the name of money, so for a long time my 'reality' remained that I was working to have 'enough to survive'.

Another interesting factor is that many of us in western society are taught to believe that we DON'T deserve a lot of money. We're taught to WANT it, but not to BELIEVE that we deserve it, which only seems like a paradox til you think about how our consumer culture is driven by desire and want, rather than need.

What I finally realized is that I have to expand my reality and shake off the bad attitudes. Money is a fact of life in our modern world. It's a tool that too many of us are taught to ignore and misuse, and just because many of the world's ills and evils are concieved to get it doesn't mean that we should ignore the fact that many of the modern worlds GOOD things are caused by it also. The fact that I can write this article and instantly send it out to people all over the world is just one example.

I expect the next few months to be a very interesting and rewarding period as I learn more about this 'new' tool and how to effectively use it. Many of the healers and 'new agers' that I know also have similar attitudes to those that I always had, so I thought I'd bring this up here.

I'm sure that many of you may have some interesting feedback. :)

"Kundalini Lessons - Money" is an excerpt from Robert Morgen's book "Kundalini Awakening for Personal Mastery 2nd Edition" (ISBN: 978-0-9790400-5-4)

Robert Morgen experienced a near-death kundalini awakening in 1992.

He's the author of ' [http://www.amazon.com/Kundalini-Awakening-Personal-Mastery-2nd/dp/0979040051]Kundalini Awakening for Personal Mastery 2nd Edition' and 'The Spiritual Entrepreneur'.

Visit his Kundalini Awakening Blog at http://kundalini-awakening.info

Article Source: http://EzineArticles.com/?expert=Robert_Morgen http://EzineArticles.com/?Kundalini-Lessons---Money&id=26121

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

On the Daily chart above, we would observe that the GBPUSD is in a downtrend; however, from a day-trade perspective, we seem to have an opportunity to Long the pair: Yesterday, price completed a reversal candle pattern at the lower edge of the downward or bearish channel, and earlier today, price broke above the previous day high @ 1.5988. These signs suggest we are in a bullish retracement in a longer term downtrend. We have a critical resistance level – the most recent Daily swing low @ 1.6132 (which we've highlighted using the blue broken line). The 1.6132 level might halt the bullish retracement. Another resistance area that is currently some pips above the 1.6132 level is a downward trend-line (red solid line). These resistance areas are very critical, especially because we are in downtrend – supported by higher time frame charts. Again, from a day-trade perspective, we could still go with the bulls, but with extreme caution when managing our trades.

On the H4 chart above, price has broken the most recent swing high @ 1.5988 (which we've highlighted using the lower blue broken line) upward. That shifts our bias in favor of an upward price move. The green horizontal line @ 1.5823 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.
Please NOTE: Let’s keep in mind that we are in a longer term downtrend. The critical resistance levels that we discussed on the Daily chart are shown on the H4 chart to have a clearer observation regarding their proximity to price action: we’re about 60 pips to the most recent Daily swing low @ 1.6132 (which we've highlighted using the upper blue broken line), and still quite a distance from the downward trend-line. We would prefer to see price break above the 1.6132 level, to be more convinced of enough room for further bullish retracement toward the downward trend-line.

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.

Long Trade set-up on USDCHF Hourly chart.

Earlier today, we concluded today’s bias is to go Long.

The Hourly chart above is currently forming a tradable pattern. Price seems to have topped temporarily @ 1.0403. Hence, we expect price to retrace to the area between 1.0357 and 1.0311 (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 exceeds the 1.0311 level downward, our bullish bias is no more valid and we enter a no-trading zone. Our primary profit target is @ 1.0428 (the 127% fib. ext.).

Also, if price breaks above 1.0403 (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. @ 1.0346;
fib 78.6% ret. @ 1.0331.

Personally, based on the broken most-recent Hourly swing high @ 1.0347, which I believe is a potentially strong reversal level, I would prefer the 61.8% ret.

Initial Stop Loss @ 1.0309; primary Profit target @ 1.0426 (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 exit levels.
We MUST NEVER assume we KNOW where price is going next!

P.S.:
Also, always keep in mind any major news releases. Be wary of possible price volatility during these periods.

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

On the Daily chart above, price currently seems to be in an upward retracement – in a strong downtrend: we could observe a number of reversal candle formations at the lower edge of the downward or bearish channel. Also, yesterday’s candle closed as a bullish candle. Consequently, current price action supports our bullish bias. We expect price to continue its upward retracement toward the upper edge of the downward channel. However, from a day-trade perspective, we would prefer to see price break above yesterday’s high @ 1.0374 before we are fully convinced to seek a Long trade setup.

On the H4 chart above, we currently have a higher high and higher low formation: a good sign supporting a bullish bias. However, price is yet to break above the most recent swing high – also yesterday’s high – @ 1.0374 (which we've highlighted using the blue broken line). The 1.0374 level, from a day-trade perspective, is a critical resistance level that we would prefer to see broken upward before we seek Long trade setups on the Hourly chart. The green horizontal line @ 1.0276 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 Short trades.

On the Daily chart above, toward the end of last week, the bulls finally succumbed to strong resistance levels. One of the resistance levels is the upward channel: we would observe that, although price seemed to have initially broken above the upward channel, it could not sustain its upward surge, and consequently, a strong reversal candle formation (railway tracks) was formed at the close of last week Wednesday’s candle. Currently, we have a sign that price has probably resolved to have a downward retracement: the most recent Daily swing low @ 1.4610 (which we've highlighted using the blue broken line) has been broken downward. We expect price to continue its downward retracement toward the lower edge of the channel; however let’s keep in mind that there are a couple of support levels – previous Daily swing highs – that the bears might have to break through to reach the channel’s lower edge. In all, from a day-trade perspective, with the support of the H4 chart, our bias is to seek Short trade setups on the Hourly chart.

On the H4 chart above, price has broken the most recent swing low @ 1.4622 (which we’ve highlighted using the blue broken line) downward. That automatically sustains our bias in favor of a downward price move. We would also observe that price is currently forming lower highs and lower lows: another good formation confirming the bears’ control. The white horizontal line @ 1.4723 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.

Please NOTE: We currently have an Hourly Short trade setup with a nice resistance-confluence around the fib 50% ret. @ 1.4641 (Primary profit target @ 1.4523; Initial SL @ 1.4721). If this level is suitable for you – in terms of reward:risk, don’t hesitate to take the trade. Please manage your trade properly: don’t risk too much, scale out your profits and adjust your stop loss when necessary.

The More You Learn the More You Earn

Personal Note: For those of us that have read the book: Rich Dad Poor Dad by Robert Kiyosaki, we would easily notice the similarity between Ryan’s article below and some of the priceless teachings in Kiyosaki’s book. These teachings can’t be overemphasized; hence I believe this article would help us, further, in the area of personal finance.
P.S.: I like Ryan’s article, but, at the moment, I cannot endorse his training program since I’m yet to know much about it.



By [http://ezinearticles.com/?expert=Ryan_Mclean]Ryan Mclean

The more you learn about money and finances the more money you can earn. We are living in the information age and these days earning money and building wealth is generally a matter of brains over brawn. The saying of 'the more you learn the more you earn' is especially relevant today.

Although, you can't just learn anything you want and expect to become rich. If you want to earn more then the most important thing that you learn is financial intelligence. Often you see smart people such as doctors and lawyers who do not have much financial intelligence. Although they can earn a lot of money at their jobs they do not know what to do with their money and thus never become truly rich.

One of the defining factors of being truly rich is being financially free. Being financially free is having the freedom to never have to work again. You can only have this freedom when your passive income (income that you don't have to work for) is great than all of your expenses.

Wealth is not measured in 'net worth' like many of the banks measure wealth. Wealth is measured in time. To put it simply, wealth is the amount of time you could survive without working. If you have $1,000 saved and your monthly expenses are $2,000 then you have 15 days of wealth.

When you passive income is the same as or greater than your expenses you are financially free, because you can live indefinitely without working. Being rich is not just having a certain amount of money in your bank account, being rich is having an abundance of money and time to do the things that really matter to you.

So in order to become financially free and become rich you need to learn financial intelligence. The more financial intelligence you learn the more passive income you can earn. Below are some things that are foundational to financial intelligence.

Assets and Liabilities
Knowing the difference between an asset and a liability is foundational knowledge if you want to have any success financially. Rich people buy assets, poor people buy liabilities. This is why the rich get richer and the poor get poorer. So you need to know the difference between assets and liabilities and you need to buy assets.

So what exactly is the difference? Well to put it in extremely simple terms, an asset is something that puts money in your pocket and a liability is something that takes money out of your pocket. Rich people focus on increasing their cashflow by buying assets. If you want to be rich you need to buy assets that generate you cashflow.

Earned Income and Passive Income
Earned income and passive income is very different (it is even taxed differently). Rich people focus on creating passive income, while poor people only ever generate earned income. Earned income is income that you have to work for. You are limited in the amount of earned income you can earn because you can only work so much. But passive income is income you don't have to work for, and you are not limited in the amount of passive income you can earn.

So if you want to be rich (and I suspect you do) you need to learn the difference between earned income and passive income and you need to focus on attaining passive income.

Saving Money and Investing Money
Poor people only save money, this is a risky thing to do. Rich people invest their money by buying assets that generate income. The reason saving money is risky is become money is constantly becoming less and less valuable due to inflation. So by saving money you are actually losing money because your money is going down in value.

Rich people leverage other people's money to buy assets that both go up in value as money goes down in value and also that generates an income from passive income.

So the saying 'the more you learn the more you earn' is true if you are dedicated to learning financial intelligence. If you learn financial intelligence then your potential income is limitless.

Becoming financially free in just 5 years is possible for anyone. It doesn't matter what your current financial situation is, you can become rich and never have to work again in just 5 short years. You don't need a high paying job or a get rich quick scheme, you just need real training on creating real strategies for getting rich.

Go to http://www.richacademy.com and sign up now to start you free training on "How To Get Rich Without Making More Money". Don't waste any time, start training yourself to be rich today by signing up for your free teaching.

Article Source: http://EzineArticles.com/?expert=Ryan_Mclean http://EzineArticles.com/?The-More-You-Learn-the-More-You-Earn&id=2924182

Short Trade set-up on USDJPY Hourly chart.

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

The Hourly chart above is currently forming a tradable pattern. Price seems to have bottomed temporarily @ 89.95. Hence, we expect price to retrace to the area between 90.38 and 90.81 (which is the area between the 50% and 100% fib. retracement levels – drawn from the most recent Hourly swing high to the current price-bottom). Let’s seek to sell around this area. If price exceeds the 90.81 level upward, our bearish bias is no more valid and we enter a no-trading zone. Our primary profit target is @ 89.72 (the 127% fib. ext.).

Also, if price breaks below 89.95 (current price-bottom) before retracing to the sell-area, we’ll have to redraw our Fibonacci tools using a new bottom & the most recent Hourly swing high to determine new potential areas to sell.

The 15min. chart above gives us a clearer view of the Hourly price action and the potential areas to sell (please note it’s advisable to set a Limit order ahead of time as price could move up to these levels 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. @ 90.48;
fib 78.6% ret. @ 90.63.

Personally, based on the broken most-recent Hourly swing low @ 90.54, which I believe is a potentially strong reversal level, I would be going for the 61.8% ret.

Initial Stop Loss @ 90.83; primary Profit target @ 89.72 (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 higher the fib level you choose to sell 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 high before moving back downward.
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 exit levels.
We MUST NEVER assume we KNOW where price is going next!

P.S.:
Please 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.

On the Daily chart above, much quicker than anticipated, the bears are recovering lost ground. Yesterday, we discussed that the GBPUSD Daily chart – in agreement with the Weekly and Monthly charts – supported the idea that the bears were showing signs of recovery as price reversed on its way toward the upper edge of the symmetrical triangle to retest the triangle’s lower edge; and that the triangle’s lower edge – forming a support-confluence with the Daily chart most recent swing low @ 1.6132 (which we've highlighted using the upper blue broken line) – remained a critical level that the bears must breach decisively to prove their strength.
Before the close of yesterday’s candle, the bears did not just breach the support-confluence, they broke below it decisively with over 350-pip move. Now, all we could expect – based on these recent price actions – is further downward price movement for, probably, a protracted period of time. Our bias is simply bearish. However, price is currently at another critical support level – a previous Daily and Weekly charts swing low @ 1.5982 (which we've highlighted using the lower blue broken line); while our bias is bearish, let’s keep this level in mind as we seek our Short trade setups – with the support of the H4 chart.

On the H4 chart above, price – since yesterday – had broken the most recent swing low @ 1.6328 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustains our bias in favor of a downward price move. The white horizontal line @ 1.6468 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.
Please NOTE that the strength of the critical support level @ 1.5982 (that we've highlighted using the lower blue broken line), which we discussed on the Daily chart, is more visible on the H4 chart as we already have a reversal candle formation (railway tracks OR inside candle – based on individual perception) around the level. Let’s expect an upward price retracement, which, possibly, would aid a Short trade setup on the Hourly chart.

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 – Are the Bears Determined to Maintain their Hold?

On the Daily chart above – in agreement with the Weekly and Monthly charts – the bears are currently showing signs of recovery as price reversed on its way toward the upper edge of the symmetrical triangle to retest the triangle’s lower edge. However, the triangle’s lower edge – forming a support-confluence with the Daily chart most recent swing low @ 1.6132 (which we've highlighted using the blue broken line) – remains a critical level that the bears must breach decisively to prove their strength. Early price action today shows price has travelled a considerable range, and there’s the possibility we would experience relatively low activity afterward; hence we might not be having an opportunity for a suitable setup for today. However, high or low activity wouldn’t be a determining factor regarding our bias. While, our bias – with the support of higher time frame charts – remains bearish, price is currently around the support-confluence that we discussed earlier, consequently, an upward retracement is very possible

On the H4 chart above, price has broken the most recent swing low @ 1.6328 (which we’ve highlighted using the blue broken line) downward. That price action automatically shifted our bias in favor of a downward price move. Again, let’s be very conscious of the fact that price is around a support-confluence. The white horizontal line @ 1.6468 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.

How Does the Practical Advice From Seven Cures For a Lean Purse Relate to Today's Economy?

Personal Finance: The Richest Man in Babylon is one of my favorite books. I believe the steps discussed in the book encompass all we need to “be” and “do” to experience sustained success in our personal finance. As Shirland rightly noted in this article, the “7 cures” are simple steps; however, the challenge is in our readiness to remain consistent and persistent with the implementation.
P.S.: There’s probably a spelling error in the author: George S. Clason’s name – misspelled as George S. Clayton.


By [http://ezinearticles.com/?expert=Shirland_Carrington]Shirland Carrington

George S. Clayton writes in "The Richest Man in Babylon" about seven cures for a lean purse. The setting for this book is in ancient time, yet his practical advice is very relevant to today's times. The concepts presented are simplistic in nature, but once applied these principles will help you succeed. It will be necessary to apply consistent and persistent actions to achieve success.

The 7 cures for a lean purse are listed below :

1. Start saving money now

You can pay your expenses with 90% of your income. The first step to making your lean purse fatter is saving 10% of your income.

2. Control what you spend

You must control the money that you spend on a daily and monthly basis. Your results will be drastically different if you constantly spend your money on a want instead of a need. You must figure out your needs and minimize your wants to control your expenses.

3. Make investments with your savings

Your purse is fattening so now you must invest it. The true way to build wealth is by finding ways to invest your savings. You must find profitable investment that will give you a great return on your money. If you fail in your first attempt to build wealth, then start over at step 1 again.

4. Protect your Return on Investment

You must weigh the risks versus the rewards of every possible investment. You must only seek advice from people who specializes in investment strategy. You due diligence in selecting and investing in a risky enterprise is very necessary to make sure your nest egg is protected.

5. Invest in property

This cure is self explanatory because everyone always dreams about owning his or her property. You would be wasting money if you are renting instead of buying your home.

6. Insure a future income

Strategic planning about your future when you have a growing surplus will help you keep your wealth. Your investments must be enough to take care of your family during your retirement years.

7. Invest in knowledge

The best way to keep your newly acquired wealth is to always invest in acquiring new skill sets. Perfecting your craft with a solid commitment to your goals will be greatly rewarded.

The seven cures to a lean purse described above are a simple plan that may be followed in the Babylon of yesteryear as well as the World of today. Saving 10% of your income on a consistent basis is only the beginning. The advice offered by "The Richest Man in Babylon" may be used by everyone now or in the future.

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Article Source: http://EzineArticles.com/?expert=Shirland_Carrington http://EzineArticles.com/?How-Does-the-Practical-Advice-From-Seven-Cures-For-a-Lean-Purse-Relate-to-Todays-Economy?&id=2739479

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

On the Daily chart above, again, earlier today we experienced another bullish price action: price-break above the previous day’s high. Much earlier, the previous day’s candle closed above the most recent Daily swing high @ 1.4766 (which we've highlighted using the blue broken line). These signs are confirming that the bulls are probably ready to push further. However, as mentioned yesterday: “personally, the current rally has been a steep one, and, consequently, a major retracement – as we’ve been discussing since last week – might be imminent.” But again, what we currently know is that the bulls are yet to show signs of weakness – at least on the Daily chart; hence, from a day-trade perspective, let’s keep seeking Long trade setups until price action indicates otherwise.

On the H4 chart above, price has broken the most recent swing high @ 1.4820 (which we've highlighted using the blue broken line) upward. That sustains our bias in favor of an upward price move. However, a couple of price actions are indicating an imminent downward price retracement in a very strong uptrend: the first price action is the reversal candle formation (a hammer or inside candle – depending on the way we see it as individuals) right on the most recent swing high @ 1.4820; a sign that the bulls are really struggling to maintain their hold. The second warning signal is a waving negative MACD Divergence (highlighted using the red lines on both panes of the chart), which, although yet to be a valid divergence, is a relatively good sign that the bears are prepared to take over – even if just temporarily. In all, as mentioned on the Daily chart, the bulls are still in charge, BUT please, let’s be mindful of the warning signs.
The green horizontal line @ 1.4610 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.

On the Daily chart above, we keep experiencing an unrelenting bulls’ rush. Last week, we observed a critical resistance area: a confluence of Weekly fib. 61.8% retracement, and the most recent Monthly chart swing high @ 1.4719 (which we've highlighted using the blue broken line on the Daily chart). As anticipated, the 1.4719 resistance-confluence made its impact felt as it halted the bulls’ move for two trading days. However, at the beginning of today, the bulls gave an indication that they were determined to continue their dominance as price broke above the most recent Daily swing high @ 1.4766 (not highlighted to avoid cluttered chart). Personally, the current rally has been a steep one, and, consequently, a major retracement – as we’ve been discussing since last week – might be imminent. However, what we currently know is that the bulls aren’t showing signs of weakness. From a day-trade perspective, let’s keep seeking Long trade setups until the bears give us signs that they are ready to challenge the bulls.

On the H4 chart above, price has broken the most recent swing high @ 1.4735 (that we've highlighted using the lower blue broken line) upward. That shifts our bias in favor of an upward price move. The green horizontal line @ 1.4610 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.
Pls NOTE: The most recent Daily swing high @ 1.4766, which we discussed on the Daily chart, is highlighted on the H4 chart with the upper blue broken line.

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.

Long Trade set-up on USDCHF Hourly chart.

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

The Hourly chart above is currently forming a tradable pattern. Price seems to have topped temporarily @ 1.0370. Hence, we expect price to retrace to the area between 1.0329 and 1.0288 (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 exceeds the 1.0288 level downward, our bullish bias is no more valid and we enter a no-trading zone. Our primary profit target is @ 1.0392 (the 127% fib. ext.).

Also, if price breaks above 1.0370 (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 number of potential reversal levels available. You choose your preferred level based on your personality.

fib 50.8% ret. @ 1.0329
fib 61.8% ret. @ 1.0319;
fib 78.6% ret. @ 1.0306.

Personally, based on the broken most-recent Hourly swing high @ 1.0311, which I believe is a potentially strong reversal level, I would be going for the 78.6% ret.

Initial Stop Loss @ 1.0286; primary Profit target @ 1.0390 (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 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 USDJPY - Daily and H4 charts support Long trades.

On the Daily chart above, we could observe that price has broken above the downward channel, as well as a critical resistance level - the most recent Weekly swing low @ 91.71 (which we've highlighted using the lower blue broken line on the Daily chart). Although, price is yet to close above the 91.71 resistance level (we would only be able to ascertain that after the close of today’s candle), its decisive break above the level suggests a continuation of the bullish correction in a strong downtrend. The next resistance level where price upward correction has a high probability of being halted is @ 93.03 - the fib. 38.2% retracement level, which, combined with a previous Daily swing low @ 93.07 (that we've highlighted using the upper blue broken line), has formed a resistance-confluence. From a day-trade perspective, we seem to have a good opportunity of going Long on the USDJPY as price is still about a 100 pips from the resistance-confluence we just identified.

On the H4 chart above, price has broken the most recent swing high @ 91.60 (which we've highlighted using the blue broken line) upward. That shifts our bias in favor of an upward price move. The green horizontal line @ 91.01 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.

How to Grow Your Very Own Money Tree

Personal Note: The beauty of Darlene’s savings guidelines, which this article is basically about, is it creates an environment where we can make a smooth transition into the investment world. Investing is a very important aspect of our personal finance, but it could be difficult to start and maintain, if we don’t cultivate the setting-money-aside-habit, discipline, and patience required to thrive in it; and, those values could be cultivated by following Darlene’s advice.


By [http://ezinearticles.com/?expert=Darlene_Arechederra]Darlene Arechederra

Okay. So money doesn't really grow on trees. Unless you plant your own Mighty Money Tree, that is!

Imagine that only a few moments ago you planted a young sapling in your back yard. You gave it just enough water to ensure a good start. Not too much, not too little. You even propped it up with a stake. You'll continue to nurture it, feed it, water it.

And with each passing year, your tender young sapling will grow stronger. Taller. Healthy. As it ages, your tree can better defend itself from natural predators. Even harsh weather.

Growing your savings account is similar to growing your new tree. Given lots of tender care, your savings account will become your Mighty Money Tree. Use the following tips to ensure a great start. So, grab your shovel and let's get planting!

Prop Up Your New Savings Account

To build an account you can enjoy for a lifetime, prop it up with nutrients to help it grow.

a) Feed your account with bonuses. Deposit money saved through cancelled subscriptions. Don't forget those unexpected windfalls, either.

How about money owed and paid back to you? Be sure to include these amounts, even if they're small. Small is great -- and very do-able.

b) Nurture your savings weekly with money saved from using coupons.

Do you buy items on sale? Take that money you saved and use it to grow your account. Tuck small amounts into an envelope. Deposit weekly.

c) Shower your fund with birthday, anniversary or holiday gifts of money. Refunds, too! This is money you normally wouldn't have had (or already spent.)

Remember, out of sight, out of mind!

Fiercely Protect From Natural Enemies

Just as you might spray your tree to ward off insects or disease, you must protect your fledgling savings account. It's precious -- and a result of your patience.

a) Avoid spending too much time with others who make it seem 'natural' to go through money. They may not give it much thought because spending is a comfortable habit for them.

But you actually have a plan. And you have the big picture of how and when you'll spend. You will decide the where and why of spending your money. Make your spending thoughtful.

b) Pace yourself as you spend your weekly allotment of money. If you run on $35 per week (for example), that gives you five dollars per day.

Stay just under that five, and you'll always be a few dollars ahead. You'll also be less tempted to tap your savings.

c) Practice 'tough love' with chronic spenders who repeatedly borrow your money. Give yourself permission to state firmly that borrowing your money is 'not' an option. Remove the stakes that prop up others' spending.

Say yes to protecting and taking care of your money. It will be there to support you, your family, and your true needs.

Promote and Maintain Healthy Growth

Small amounts add up big time, so keep money coming into your account on a regular basis. Keep it growing!

a) Remember 'why' you set up your account. Know your balance at all times. Keep your eye on the bigger picture.

Will it help you pay for a gently used car, eliminating future car payments year after year? Is it your 'freedom from working for others' fund?

b) Begin with one great strategy, and use it to create a steady stream of money to feed your account. Will it be a direct deposit through payroll?

Will you fund it by using only dollar bills, and setting aside all change at the end of each day? If so, scoop up your change and deposit weekly.

c) Each month, find a new, creative way to put more money in your account. Then find another method and repeat for a month. Keep the top three or four methods which seem to work best for you. Toss the rest, because you want methods that work for you consistently.

Need a starting point? Why not begin with spending ten dollars less at the store each week? Tuck your ten bucks into your savings account. It's simple, and it won't leave you feeling deprived.

Lastly, feel the wonder of knowing that your money tree will continue to grow. Like a faithful friend, it will remain at your side. Your champion in good times, a comfort in the rough patches of life.

It has the power to draw your dream out of the darkness and into the light. How long have you had that private, special dream? Only you can know.

Now, what would 'you' do with your own Mighty Money Tree? Plant one today! Prop it up. Protect it. Watch it grow.

Author of Rat Race Blues for Women, Darlene Arechederra shares simple strategies for living well on less and enjoying a debt-free lifestyle. Visit her today at http://www.RatRaceRemedies.com or http://www.AffordToStayHome.com

Article Source: http://EzineArticles.com/?expert=Darlene_Arechederra http://EzineArticles.com/?How-to-Grow-Your-Very-Own-Money-Tree&id=22105

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

On the Daily chart above, with the support of the Monthly and Weekly charts, the GBPUSD seems to have resumed its bearish move on. Price is currently in a symmetrical triangle formation, and on its way toward the lower edge of the triangle formation; we would assume price has got enough room to move further downward. Also buttressing our downward bias is the most recent Daily swing low @ 1.6401 (which we've highlighted using the upper blue broken line) that price recently broke below. A major support level - a previous Daily swing low @ 1.6112 (that we've highlighted using the lower blue broken line), which might likely form a support-confluence with the lower edge of the symmetrical triangle formation, is the next level where we expect the bears to be challenged. Hence, from a day-trade perspective, I believe the coast is clear enough to seek Short trades - with the support of the H4 chart.

On the H4 chart above, price has broken the most recent swing low @ 1.6433 (which we've highlighted using the blue broken line) downward. That shifts our bias in favor of a downward price move. The white horizontal line @ 1.6567 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...

On the Daily chart above, the story remains pretty much the same as yesterday's: though the bulls keep showing their determination, price is still hovering around the critical resistance area (that we discussed yesterday): a confluence of Weekly fib. 61.8% retracement and the most recent Monthly chart swing high @ 1.4719 (which we've highlighted using the upper blue broken line on the Daily chart). Price also seems resolute on breaking decisively above the upward channel: we would confirm that at the end of today, based on today's candle close. Really, there's no reason to be thinking Short now - though the steep bulls' move seems set for imminent correction. The point is no one can predict precisely when the correction would happen. In all, all that we currently know is that the bulls are still in control. Let's keep on "riding" the bulls with caution.

On the H4 chart above, price has stayed above the most recent swing high @ 1.4651 (that we've highlighted using the blue broken line), which we've identified since yesterday. That sustains our bias in favor of an upward price move. The green horizontal line @ 1.4640 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, to buttress our cautious position, we have a very obvious waving negative MACD Divergence. Although, it's not yet a valid divergence, it signals the possibility of an imminent price retracement downward. Let's keep all these warning signs in mind as we look for our Long positions.

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.

More Money? My Cup Runneth Over...But I'm Still Thirsty

Personal Note: I often wonder why more money does not guarantee a better financial lifestyle; why our expenses usually grow as our income increases. Most answers I've received always revolve around us - not money or circumstances - as the main cause of this nagging issue. In this article, I believe Cheryl offers us insights that would help us to further understand and take control of our personal finance.


By [http://ezinearticles.com/?expert=Cheryl_Johnson]Cheryl Johnson

Most of us, especially those of us who have debtor’s disease (if you have it you know what it is!), have commented or at least thought, “If I could just win the lottery, or sweepstakes, everything would be better.” Unfortunately, even if that big dream did come true things probably would get worse instead of better.

It’s a strange phenomenon. It seems the more money you have, the more you need. It makes perfect sense. Given more money, most people would increase their standard of living. My question is, “If you haven’t properly managed the money you have now, how do you expect that you’ll be able to properly manage two, three, four, five or hundreds of thousands times more money?” A good question, huh? Food for thought. Maybe you need to start learning to properly manage what you have now while it’s on a much smaller scale. Then you’ll be prepared when that big lottery win, or sweepstakes, comes through!

Now you may think this is a crazy, nonsense theory. Surely a million is enough for anyone to be on easy street! I’m sure you have at some time heard rumor about people who fall into great wealth by some means or another, and just a short time later are back where they started or in even worse financial condition. Many of these instances end in bankruptcy.

Not convinced? Let me tell you about my own, smaller scale, experience with this strange phenomenon. Once upon a time, I was a single parent raising four children on an income of just under $20,000 per year. My children did not do without, and while I did begin my journey into debtors demise during this time, I had everything under control. Or so I thought.

By my understanding now, I certainly was not managing my money well. I was not properly preparing for variable expenses or emergency expenses that were sure to arise. Thank goodness for a great family infrastructure that gave help and support when needed! My monthly payments were well within my income, including debt payments. I monitored my debt to be sure I maintained a comfortable debt to income ratio. I felt that I had the proper perspective on my finances.

It was not until the household income increased due to marriage that I somehow lost that perspective and my real problems began. I blame a good deal of this accelerating financial ruin to “over confidence.” This “over confidence” lead to an arrogant disregard of proper money management. Looking back, you know hind sight is 20/20, if I knew then what I know now, I would be way ahead of the game!

Since my new husband earned more than twice the income I had, I quit work to become a stay at home mom. I’ve been working since I was fourteen years old (and I’m no spring chicken now) so when he expressed the desire for me to stay at home with the kids, I jumped on it! But, this was not a contributing factor to my financial demise. It was the mindset I acquired when the household income increased.

My mindset was this, “If I took care of a family of five on my near poverty level income, surely I have no financial worries now.” Life was good! At least for a while. Our standard of living changed of course. Typically, my cup runneth over……and I thirsted for more. Now we could afford to charge those things we “needed?” (I question it because, my definition of this word has greatly changed) and wanted without fear. I had that fear before. The fear of not being able to pay back the debt. I believe that’s why I kept it under strict control. With that fear now gone and a new sense of false security replacing it……..debtor’s demise set in quickly.

Before I knew it we were living paycheck to paycheck. Sometimes, I even found myself juggling funds around to make the budget balance. It didn’t seem like so much money any more. I can laugh at myself now that I understand exactly how it happened. That delusion of grandeur mindset I had let little ol’ me fall into. After all my research, I now know that I am not unlike millions of other people in this world. It’s an easy mindset to get into. This is why more money will never make everything better until you learn to manage first and then spend.

Your best preparation for that big winning day is to start planning now. Even if that big money dream never comes true, you may be surprised what a little forethought and planning can accomplish. A good debt free spending plan and monthly budget that encourage frugal living will, at the very least, provide you with more financial security and independence.

Why heck, if you’re young enough, you can plan your way into millionaire status. It can be done. It has been done! It’s the guy next door who you may not even be aware classifies as a millionaire. He or she probably doesn’t brag about it, and their lifestyle doesn’t hint of it. But I bet that’s one happy, stress free, millionaire who has everything he needs and wants. He’s probably just about the nicest person you ever want to meet. Simply because he manages his money and refuses to let his money manage him!

So what are you waiting for? Quit wishing for more money and make a plan to manage and take control of what money you have!

Good Luck and Success

Live Debt Free to Be Free. You Deserve It!

Cheryl Johnson is a mother of four helping herself and others become and stay debt free. Publisher of Simple Debt Free Living at http://www.simpledebtfreeliving.com - A self-help plan, ideas, and resources for debt management, household budget planning, frugal and debt free living, and [http://www.simpledebtfreeliving.com/work-at-home.html]extra income opportunities Money Saving tips to maximize savings everyday, reduce expenses, and encourage debt free living.

Article Source: http://EzineArticles.com/?expert=Cheryl_Johnson http://EzineArticles.com/?More-Money?-My-Cup-Runneth-Over...But-Im-Still-Thirsty&id=13735

Today on EURUSD - Daily and H4 charts support Long trades, but Weekly chart cautions.

On the Weekly chart above, we could see that price is in a strong uptrend; however, we are at a critical resistance area: a confluence of fib. 61.8% retracement and the most recent Monthly chart swing high @ 1.4719 (which we've highlighted using the blue broken line on the Weekly chart) tells us price might currently be under intense resistance pressure.

On the Daily chart above, we have a clearer view of the proximity of price to the critical resistance level @ 1.4719 (that we've highlighted using the upper blue broken line), which we discussed on the Weekly chart. In addition, price is at the upper edge of an upward channel - another sign showing the possibility of resistance pressure. However, the bulls are yet to show signs that they are buckling under any resistance pressure as the previous day candle closed as a bullish candle, and price just broke above the previous day high. Personally, until the bulls show sign of weakness, I'll keep believing they are in control. Nevertheless, it would be wise not to disregard the resistance-confluence. Again, today might be another holiday for conservative traders. For those of us that might want to give the bulls the benefit of the doubt, let's be very cautious.

On the H4 chart above, price has broken the most recent swing high @ 1.4651 (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 @ 1.4560 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...

On the Daily chart above, as discussed yesterday, price is in a strong down trend: price pattern is currently forming lower highs and lower lows. However, from a day-trade perspective, we seem to have an opportunity to temporarily support the dollar against the yen: the potential support area - the lower edge of the downward channel - that was identified yesterday, proved to be strong enough to, at least, halt price's downward movement for more than 24 hours. In addition, Friday's low, which we also discussed yesterday, couldn't be breached. Now, by the end of yesterday, a reversal candle formation - a quasi inside candle - appeared at the lower edge of the downward channel; and then, price recently broke above the previous day high. These current price actions are signaling the opportunity, from a day-trade perspective, to go Long in a possible upward price retracement that, though might be short-lived, has the potential of traveling further north toward the upper edge of the downward channel. This upper edge might likely turn out to be a strong resistance area as it creates a resistance-confluence with a previous support level - the most recent Weekly swing low @ 91.71 (which we've highlighted using the blue broken line on the Daily chart), which should now act as a very strong resistance level. I believe it's safe to seek a Long trade set-up based on our H4 and Hourly charts parameters. But, let's not forget we're in a major down-trend.

On the H4 chart above, price has broken the most recent swing high @ 91.12 (which we've highlighted using the blue broken line) upward. That shifts our bias in favor of an upward price move. The green horizontal line @ 90.19 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, let's not forget we're in a major down-trend.

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...

On the Daily chart above, we would notice that price is in a strong down trend: price pattern keeps forming lower highs and lower lows. In addition, price has broken a very strong support level - the most recent Weekly swing low @ 91.71 (which we've highlighted using the blue broken line on the Daily chart) downward. These are strong signs that the bears are fully in control. However, price has currently hit the lower edge of the downward channel - a potential support area, and it's yet to close below it; also, price is yet to gather enough momentum to break below Friday's low (the last trading day low). This current price action is a warning that, though price is in a strong down trend, an upward retracement might be imminent. Consequently, let's keep these support areas in mind. Conservative traders would probably prefer to see price close and break decisively below the lower edge of the downward channel and Friday's low, respectively.

On the H4 chart above, price has broken the most recent swing low @ 91.42 (which we've highlighted using the blue broken line) downward. That sustains our bias in favor of a downward price move. The white horizontal line @ 92.24 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. But, let's not forget the possible price retracement signs discussed on the Daily chart.

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.

How To Make A Smart Investment Decision

Personal Note: This Peter's article on investing/personal finance is succinct and, I believe, easy to understand. While he used the stock market as an example, the lesson applies to various investment vehicles (including the currency market) that are available to us in this information age.

Author: Peter Gitundu

It goes without saying that the purpose for investing is to get returns from the money that one puts into the pool. For that reason therefore, every investor is out looking for what he may term as a smart investment. While the word smart is an acronym for some valuable characteristics, not many people have internalized it in as far as their money is concerned.

Putting money in a scheme is not something to be taken for granted. One needs to have a specific reason for doing so. The reason could be that one is saving for his children education, or saving to buy a home in future. With such goals in mind, one is able to choose the right kind of security. You therefore need to carry out a market survey to achieve this goal.

When you know why you are putting your money in a scheme, you are then able to measure the kind of return to expect. This is to say that once you know which type of security to buy, you are in a position to calculate the rate of return to expect. In most cases this will be determined by the market trends, but if you check out the performance of that security in the past, you will get a general idea of what to expect.

As you venture into the stock market, beware that there are many types of securities that you can buy. One way to determine which one to go for and which one to avoid is by comparing the risk versus the return. They both tend to move towards the same direction in that, as one increases the other one does too. This way, you will be able to determine whether the scheme is achievable or not.

Article Source: http://www.articlesbase.com/investing-articles/how-to-make-a-smart-investment-decision-1209930.html

About the Author:
Peter Gitundu Creates Interesting And Thought Provoking Content on Investment. For More Information, Read More Of His Articles Here SMALL BUSINESS MENTOR If You Enjoyed This Article, Make Sure You Read My Most Recent Posts Here WHAT DEFINES OUR LIFE

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

On the Daily chart above, while the Monthly and Weekly charts are still giving bearish signals, the Daily chart has signaled move in the opposite direction. The negative MACD Divergence, which was a primary factor that sustained our bearish bias for weeks, has been invalidated: as seen on the lower pane of the chart, MACD has crossed its Signal Line upward. Also, yesterday, price closed above a strong resistance level - a Daily swing high @ 1.6623 (which we've highlighted using the lower blue broken line). The next critical resistance level - the year high @ 1.7042 (which we've highlighted using the upper blue broken line) is a defining level that, if broken upward, would invalidate every indicator supporting a protracted bearish move that we discussed throughout the entire month of August. In all, from a day-trade perspective, we have a strong case in favor of a continuous upward price movement.

On the H4 chart above, price has broken the most recent swing high @ 1.6591 (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 @ 1.6479 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.

On the Daily chart above, we would notice that price has decisively broken below the 1.0600 level, which we've been discussing for a few weeks. Consequently, there is the high probability of price moving further downward. The dollar has been under intense pressure as investors bet on economic recovery through higher yielding currencies. This fundamental perspective only strengthens the validity of the price action seen on our charts. Although - based on the Weekly and Monthly charts - we still have a number of critical support levels that the bears will have to face, the coast is currently clear for a continuous downward price movement.

On the H4 chart above, price has broken the most recent swing low @ 1.0430 (which we've highlighted using the blue broken line) downward. That sustains our bias in favor of a downward price move. The white horizontal line @ 1.0487 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.

On the Daily chart above, the coast seems so clear for the bulls: price has broken the year high - a very major resistance level @ 1.4447 (which we've highlighted using the blue broken line) upward. Pls NOTE that price didn't just break this level, it closed comfortably above it. Also the downward trend-line was broken upward without much effort. These two signs, especially the broken year high, simply tell us there's a high probability that the bulls might be reigning for a considerable period of time. Really, the price action is so clear that there isn't much to analyze.

On the H4 chart above, price has broken a recent swing high @ 1.4359 (which we've highlighted using the blue broken line) upward. That shifts our bias in favor of an upward price move. The green horizontal line @ 1.4190 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.

Is the GBPUSD having a change of mind?

Since the beginning of August, higher time frame charts have been signaling the possibility of bears dominating the GBPUSD for a relatively protracted period. However, while the Monthly and Weekly charts are still giving bearish signals, the Daily chart above seems to be having a change of mind: The negative MACD Divergence has been weakened and MACD is about crossing its Signal Line upward. MACD's close above its Signal Line at the end of today will invalidate the negative Divergence. Also, we would notice that after price broke decisively above a downward trend-line (the down trending red line), it seems determined to close above the resistance area - a previous upward trend-line (the red dashed line), which we've been discussing for days. The next critical resistance level that might halt the bullish surge is a Daily swing high @ 1.6623 (which we've highlighted using the blue broken line).

On the H4 chart above, price has broken the most recent swing high @ 1.6442 (which we've highlighted using the blue broken line) upward. That shifts our bias in favor of an upward price move. The green horizontal line @ 1.6321 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.

GBPUSD on Labor Day in the United States

Please NOTE: This is a belated analysis. I couldn't post it at the appropriate time due to connection issues, but I believe it'll still be useful for future reference.

Today, we have Bank Holiday in the US. Consequently, quite a number of traders won't be in the market, and there might be thin volume. I was unable to have analysis posted during the London session; however, current price action on the GBPUSD pair seems to be giving us new signs. This analysis might be useful for those of us trading the late New York session:

On the Daily chart above, price is currently at a resistance area: a previous upward trend-line (the red dashed line), which we've been discussing for some days now. Though, we are yet to know if price would break above it, or if price would be forced to retreat downward, let's have it in mind that the bulls might be having a tough time around this area.

On the H4 chart above, price has broken the most recent swing low @ 1.6364 (which we've highlighted using the blue broken line) downward. That shifts our bias in favor of a downward price move. The white horizontal line @ 1.6443 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.

On the Hourly chart above, we have the price action buttressing our bearish bias: price has broken the most recent swing low @ 1.6364 (that we've highlighted using the blue broken line), which also happens to be H4 most recent swing low. Also, we have a negative MACD divergence. Please keep this current price action in mind as you place your trades.

Have a happy Labor Day.