Developing A Life Plan To Live Without Money

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

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

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

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

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

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

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

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

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

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

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

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

About the Author:

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

2009

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

Personal Finance Advice You Can Use

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

By : nikky Howard

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

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

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

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

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

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

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

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

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

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

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

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

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

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What We Can Learn From the Rule of 72

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


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

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

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

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

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

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

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

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

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

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

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

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

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


By : Dean Relax

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

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

- Start with a Small Amount

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

- Set Realistic Goals

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

- Understand the Core Logic

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

- Verify the Reputation

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

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

If you're not really keen doing this all on your own, have you thought about joining an investment alliance?
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Dear fellow traders,

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Personal Finance Tips - How You Know You Are a Millionaire

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Today on USDCHF – What next on this Currency Pair?

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

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

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

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

A Plan to Double Your Wealth With the Rule of 72

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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