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

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

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…

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…

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

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…

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.

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...

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

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.

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...

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

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...

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...

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...

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

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.

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.

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.

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

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…

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.

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.