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.

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

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

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

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

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

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

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

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

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

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

Nine Reasons For Your Money Trouble

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


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

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

1. Not wanting to think about money.

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

2. Blaming situations and other people.

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

3. Wanting appearances over reality.

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

4. Not knowing where it goes.

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

5. Not calculating real costs.

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

6. Thinking debt buys more things.

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

7. Not controlling fixed expenses.

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

8. Thinking financial surprises are unpredictable.

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

9. Helping friends and family too much.

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Stop Worrying About Personal Finances and Enjoy What You Have

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Today on GBPUSD – The bears reign under threat…

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

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

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

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

Today on USDJPY – NFP Rules.

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

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

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

How to Become Financially Intelligent in the 21st Century

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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


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

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

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

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

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

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

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

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

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

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