Update on today’s USDJPY Short Trade set-up

The USDJPY short trade didn’t completely work out as we anticipated. However, we had enough opportunity to protect our Short positions, and even make a few pips – if we managed our trades properly.

On the Hourly chart above, price, after hitting the fib 61.8% ret. level, reversed southward by over 30 pips to the 90.15 level (highlighted with the lower blue broken line). From a day-trade perspective, that gave us the opportunity to scale out a few pips, and also adjust our Stop Losses to break even – or, at least, a couple of pips above the point where price initially reversed @ 90.58 (not highlighted).

What is Your Relationship With Money?

Personal Note: I believe the insights shared by Dr. Cohen in this article would be helpful as we keep working toward building our personal finances. The article is rather lengthy, but let’s try and take our time to patiently digest the information.


By [http://ezinearticles.com/?expert=Lorraine_Cohen]Lorraine Cohen

Whenever I do a compelling conversation with a guest there are numerous questions that are submitted around the topic of money; how to increase income, attract more clients, and ways to shift from lack and struggle to more abundance and flow. Money is at the forefront of many people's minds.

Despite the negative news about the economy that feeds into fear and constriction, throughout history we have experienced numerous times that have created concerns about our financial future and survival that have culminated in enormous growth, innovations, and fortunes. Today we have the opportunities to create a grand future filled with limitless money, abundance and joy. There is plenty of wealth in the world for those who are willing to reach for it and allow the flow into their lives. Looking at your relationship with money will determine what you manifest in the coming days, weeks, and years.

What do I mean when I say relationship?

I mean when you think about money or having wealth, what beliefs, thoughts, and body sensations come up?

Common beliefs and thoughts:

~ People who do spiritual work are meant to be poor
~ Money changes people negatively
~ If I make a lot of money, I'll lose myself and the people I love
~ Money comes easily to other people but not for me
~ Rich people are selfish and power hungry. I don't want to be one of THEM.
~ There is never enough money no matter how hard I try

1. What are your beliefs about money?
2. What judgments and resentments do you have towards yourself about money based on prior decisions and actions that have caused financial hardship in your business, career, and relationships?
3. What judgments and resentments do you have towards others that affect your financial situation including any financial hardship, fear, and stress about the future from others - banks, the government, your boss, the economy.....
4. What expectations do you have about money?
5. What fears do you have about money?

Every thought, feeling, belief, and action has manifesting energy: the power to create what you desire or more of what is undesired depending on the amount of attention and emotional charge invested. The more attention and energy you give to your thoughts and feeling, the faster you manifest.

Sue is a successful financial advisor working for a large financial services company. Starting as a secretary, she worked her way up in the company to make a comfortable six figure income. She never imagined making that much money and she wanted to raise her earning capacity. She said she felt stuck at her current income level despite her efforts to expand her business. When we dug deeper into her thoughts, feeling and beliefs about money, she realized she had some limiting beliefs about her self-worth, fears of success, and unconscious programs rooted in childhood that were linked to her father's attitudes about money. Once cleared, she was able to get unstuck form her current financial plateau and grow her business exponentially.

Do your see money as a friend, a constant companion, a lover, or a foe?

My friend Morgana Rae says, "Money is not a number, it's a relationship." Known as the Money Magic Queen, she developed a powerfull & unique 5-step process of attracting wealth with financial alchemy by creating a "money honey" who will shower you with money and abundance when you are aligned with your relationship with money. Each morning the message below pops up in my Outlook for me to read out loud. It includes the five statements suggested by Morgana

* Money speaks to me and guides me to my highest good.
* My prosperity serves the world.
* People love to give me Money because I add value to their lives.
* I respect and appreciate the abundance in my life.
* I AM wealthy NOW!

I added:

* I say YES to stepping into the next and highest version of who I AM!
* I say YES to my destiny!
* I AM now letting go of what no longer serves me.
* I AM always safe, it is only change.
* I open new doors to life. All of my abundance comes from Source - Thank you!

Money Set Points

As a popular broadcaster, I had a recent Compelling Conversation with Million Dollar Marketing Coach, Kendall Summerhawk. We talked about "money set points". Kendall described how we bump up against money walls. Below is a brief excerpt from our conversation.

"The money set point is the dollar amount that we currently have subconsciously programmed way down deep in the recesses of our subconscious that we have programmed as being acceptable to make." On the outside, people say they want to make more money, "Oh, I'm in business, I'm working hard and I want to make more money." They say, "Sure I'd love to make a million bucks, that sounds great!" Well let's see where your money set point is so we know where you're starting from right now.

Let me give you the formula and there is a very easy thing you can do to raise the dollar amount. See, what happens is that even though we may be saying that we want to make more money, internally we have this dollar amount set to a certain figure, a particular number.If we're not making that number after a period of time, we're going to give ourselves a kick in the butt and make some money and get back to that sort of neutral place.

But if we start to make more money, it triggers something deep in our subconscious that tells us it is not okay, "Nope, this is not okay, I am not comfortable here, I am threatened in some way," so we create sabotage in our lives. The sabotage can look like external events like the car breaks or an unexpected house bill or whatever. Certainly things do just happen. But really, I don't think they just happen though. I think from the law of attraction standpoint it is a form of self sabotage.

So, here is the formula so you know exactly where your dollar is. The formula is to take the last 12 months, month by month, to look at the last 12 months of money that you have brought it. You want to count, it all counts no matter where it came from, even found on street, gift money, birthday money (my grandma still give me birthday money every year, it's very cute!), money from a spouse, money from a job, it doesn't matter, it all counts.

And you look at how much you brought in, just gross income, month by month for last 12 months. Choose the 5 highest months, add them up and then divide by 5. That's going to give you a high average, is what that's going to give you. And the reason it's 5 (I have people ask me this all the time) is because it kind of balances out the extreme highs and extreme lows. That's going to give you your high average. That is the dollar amount, where your current, that internal subconscious money set point is set to. I could check in with somebody a year from now and if they haven't really done anything different, you know they sort of just keep going along, they're not really getting into that discomfort zone, they're not getting mentoring, they're not attending events or reading, they're going be plus or minus a little bit, but pretty much at the same dollar amount".

Five ways you might be pushing money away:

1. Devaluing your products and services by not charging enough. Be willing to raise your prices and eliminate dis-counts. Offer incentives instead.

2. Not having strong boundaries for your SELF and your business. Breaking self-agreements, disregarding your needs and self-care affects your self-worth which directly impacts your flow of abundance. Work on cultivating a love affair with YOU.

3. Programs and beliefs operating at the subconscious level. If you've been trying to break through fears, lifting your self-worth, and overcoming self-sabotage with limited success, GET HELP clearing them. You're too close to your stuff and getting in your own way. Modalities such as hypnosis, Theta Healing, and NLP have helped people thousands of people shift their beliefs at the subconscious level and resolve the past. Be willing to let go of the reasons, excuses, and rationalization you use to hide out in your life and keep struggling even if it means being uncomfortable. You're not here to play small.

4. Trying to grow yourself and your business alone. Successful entrepreneurs and business people have mentors, masterminds groups, coaches, and teams of people to support them. Do you? Think you can't afford it? You can't afford not to get help. Every day you make money decisions and if you are not able to hire someone right away, begin socking some money away NOW to build up a fund! Bartering for services might also be an option.

5. Being tight-fisted. When dealing with financial challenges of scarcity and lack, a common reaction is to constrict in fear. Working with Universal Laws such Attraction, Cause and Effect, Creation...remind us that "we must give what we most want to receive.." What we grasp tightly or hoard in fear will only create more of the same that is undesired. Be willing to donate, tithe with people who spiritually feed your spirit, and share your abundance with others. Do it now.

Is your current relationship with money working for you? If not, I encourage you to take one thing from this article or this newsletter to change your relationship with money and open up the flow in your life. Saying YES to who you are meant to be and the life you came here to live includes having abundance, money, and love. You life is meant to be fruitfull, fun, and happy!

Founder of Powerful-Living, Rev. Dr. Lorraine Cohen is a spiritual life coach, published writer, and inspirational speaker who is recognized as a cutting-edge expert in her field. For over 20 years, Lorraine has inspired and supported thousands of spiritually-conscious business owners, entrepreneurs, professionals, coaches, mentors, and authors to create a prosperous business, meaningful career and fulfilling life that aligns with their spirit. An expert in transforming fear and limiting beliefs that create barriers to success, she shows people how to get unstuck; to break through the confusion and roadblocks so they move forward in all areas of their life.

As a popular broadcaster, she hosts two internet programs: Powerfull Living Radio on Blog Talk Radio and The Compelling Conversations for Powerfull Living Series on business, personal, and spiritual topics with leaders in the field including Marci Shimoff, Neale Donald Walsch, and Dr. Bernie Siegel. Visit http://www.powerfull-living.biz to learn more. Receive her free report '5 Secrets to Attracting Everything You Want!"

Article Source: http://EzineArticles.com/?expert=Lorraine_Cohen http://EzineArticles.com/?What-is-Your-Relationship-With-Money?&id=3044173

Short Trade set-up on USDJPY Hourly chart.

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

The Hourly chart above is currently forming a tradable pattern. Price seems to have bottomed temporarily @ 90.06. Hence, we expect price to retrace to the area between 90.42 and 90.78 (which is the area between the 50% and 100% fib. retracement levels – drawn from the most recent Hourly swing high to the current price-bottom). Let’s seek to sell around this area. If price exceeds the 90.78 level upward, our bearish bias is no more valid and we enter a no-trading zone. Our primary profit target is @ 89.87 (the 127% fib. ext.).

Also, if price breaks below 90.06 (current price-bottom) before retracing to the sell-area, we’ll have to redraw our Fibonacci tools using a new bottom & the most recent Hourly swing high to determine new potential areas to sell.

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

fib 50% ret. @ 90.42;
fib 61.8% ret. @ 90.51.

Personally, based on the broken most-recent Hourly swing low @ 90.49, which I believe is a potentially strong reversal level; I would opt for the 61.8% ret.

Initial Stop Loss @ 90.80; primary Profit target @ 89.87 (Please remember to factor in your broker’s pip-spread).

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

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

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

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

On the Daily chart above, in the past two weeks, we’ve been experiencing a bullish retracement in a strong downtrend. We expected price to move up toward the resistance-confluence of fib 38.2% ret. and the most recent Weekly swing low @ 91.71 (which we've highlighted using the upper blue broken line). However, the bulls couldn’t garner enough strength to push that high: they were stopped about 40 pips away @ 91.31. Currently, buoyed by the longer term downtrend, our bias is bearish. The next critical support level is the most recent Daily swing low @ 88.82 (which we've highlighted using the lower blue broken line).


On the H4 chart above, price has broken the most recent swing low @ 90.35 (which we’ve highlighted using the upper blue broken line) downward. That automatically sustains our bias in favor of a downward price move. The 88.82 support level, which we discussed on the Daily chart, is also shown on the H4 chart (the lower blue broken line). Price is currently more than 150 pips away from this support level; hence, we seem to have enough room to seek Short trades.
The white horizontal line @ 91.31 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 – Are the bears ready to take over?

On the Daily chart above, we seem to be getting signals that price is probably set to resume its movement in direction of a strong downward trend – supported by the Weekly and Monthly charts, as well as a number of chart patterns on the Daily chart, which include a head and shoulders formation (as shown). Earlier today, price breached Friday’s low @ 1.6251: a relatively good sign that the bears are ready to resume their activities. From a day-trade perspective, we seem to have the opportunity to short the GBPUSD pair. The most recent Daily swing high @ 1.6119 is a support level we have to bear in mind: the bears might encounter hurdles around this level.

On the H4 chart above, price has breached the most recent swing low @ 1.6251 (which we’ve highlighted using the upper blue broken line) downward. That automatically shifts our bias in favor of a downward price move. The 1.6119 support level, which we discussed on the Daily chart, is also shown on the H4 chart (the lower blue broken line). Price is currently over a 100 pips from this support level; hence, we seem to have enough room to seek Short trades.
The white horizontal line @ 1.6398 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.

Informing Your Children About Your Debt

Personal Note: One thing I’ve realized is the more we express our thoughts, the more we are able to grasp the whole essence of the activity(ies) we are involved in, which then helps us in making more perceptive decisions. In matters relating to family and personal finance, the act of thought-expression becomes much more valuable when those we share our thoughts with include our loved ones – spouses, children, etc.: In the process of engaging our children, wards, etc. we further develop ourselves, while we make available to them priceless information in their formative years.
In this short but very helpful article, John discusses one of the many areas in our finances where we should involve our family members.


By [http://ezinearticles.com/?expert=John_Glasburg]John Glasburg

Perhaps you're the primary money manager in the family; it means you'll probably shoulder most of the tasks for turning your family's financial situation around. However, that doesn't mean you shouldn't involve other family members in the effort. The cooperation of your children is essential. Although you are the one who pay the bills every month, you and your children spend the money together, so they have very direct effects on the failure or success of your get-out-of-debt effort. You should be totally honest about your family's financial situation with your children. They may not need to know all the exact details, but if your kids are mature enough to sense money-related anxiety and tension in your household, you should tell them about what is actually going on and what you're doing to improve things.

Perhaps, like most parents, your first instinct may be to protect the children from your family's financial troubles. Usually, that is not a good thing. Even three years old children are surprisingly perceptive about subtle changes in their environment.

Of course, they may not know exactly why things have changed or how, but they can feel the changes and may develop unexpected problems as a result except if you help your children understand and deal with what's going on. You should help your children maintain a sense of security and confidence by explaining your family's financial issues and what they should expect in the months ahead. Always take their maturity levels and ages into consideration when you decide to talk to them. Tell them all they need to know and can understand intellectually, and don't scare them. You probably should go into greater detail with your preteen or teenage child. They generally have more financial requirements than younger children and are more susceptible to pressure.

About the Author:

John's articles have been provided since 2006. His new website is about dating and can be found at [http://www.singlesdatingsite.org/]http://www.singlesdatingsite.org/, this site helps people find the best [http://www.singlesdatingsite.org/]singles dating site they need.

Article Source: http://EzineArticles.com/?expert=John_Glasburg http://EzineArticles.com/?Informing-Your-Children-About-Your-Debt&id=3047360

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

On the Daily chart above, earlier this week, we expected further bearish movement – in line with the major downtrend, however, the bulls proved they weren’t prepared to let go just yet. Price continued its upward retracement, broke above the most recent Daily swing high @ 90.45 (which we've highlighted using the lower blue broken line); and now, it seems set to test the next resistance level – a resistance confluence of fib 38.2% ret. and the most recent Weekly swing low @ 91.71 (which we've highlighted using the upper blue broken line). From a day-trade perspective, though price has already moved a considerable distance today, we can still seek opportunities to go Long, using our Hourly charts.

On the H4 chart above, price has broken the most recent swing high @ 90.77 (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 @ 88.82 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.