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Cancun Mexico Live it to Believe It

2017-08-07T23:40:00.000+07:00

Cancun Mexico Live it to Believe It Experience White-Sand Beaches Sophisticated Resorts, and Energetic Nightlife 1 Cancun Mexico is Voted In the top 25 beach destinations in the world Cancun Mexico, a Mexican city on the Yucatan Peninsula bordering the Caribbean Sea, is known for its beaches, numerous resorts and energetic nightlife.

Cancun Mexico Live it to Believe It

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Thinking About Traveling To Australia

2017-07-24T01:20:00.001+07:00

Thinking About Traveling To Australia

By: Dalvin Rumsey

By size, English-speaking Australia is the 6th largest country in the world and it extends on to include a group of islands - one of which you might be familiar: Tasmania! Other countries close by including New Guinea, Vanuatu, New Zealand, and a few more. So if you're thinking about traveling to Australia, you might appreciate knowing a few answers to some questions that people usually ask before making a trip to 'The Land Down Under' based either on rumors they've heard or the experience of others.

Answers About Appliance Compatibility

For instance, you might appreciate knowing what personal appliances of yours will work in this country, like a blow dryer or some other appliance that you need to 'plug in somewhere'. You should note that although the country is closer to American culture than most of the others, the outlets in Australia are not the same as the outlets in the U.S.

If you're an American traveling to Australia, you're going to need to get some socket adapters and you might also need to get some voltage adapters so that you can get some of your electronic appliances from back home to work. This is, of course, assuming that these adapters are not already in place at the hotel that you stay at (like if you were to visit with a relative or stay with a friend).

If you want to bring along some VHS videos (like home videos) with you on your trip, however, you won't have a problem displaying these because all VHS videos play on Australian VCRs. And if you can manage to get your hands on a DVD player that works in any location of the world, then you'll certainly have no problem with displaying these disks either.

Other things like CD players and personal computers should work fine too, but your current telephone won't work at all unless it can operate on a GSM-900 frequency. Should you decide to stay at a hotel, these accommodations should already be put in place. They're really only relevant if again, you decide to visit with a relative or stay with a friend - or anywhere that might not support or use American-based electronics.

Answers About Tipping

Tipping in a foreign country is always a concern, as we're often not too sure how much to tip or if even tipping is part of the custom. Although it's customary in the United States, it's actually an insult to tip a serviceman in other parts of the world. And what makes the issue even more confusing is that the rules about when to tip, who to tip, and how much to tip change all the time. Fortunately, the tipping rules in Australia are pretty simple. If you want to tip, feel free but note that most service charges are already included in any bill that you pay.

Answers About Touring the Land

Because of its immense size, touring about Australia is nothing short of extreme temptation- so you may appreciate a little lesson in its geography. For instance, If you plan to rent a car and create your own personal excavation, understand that most cities are situated on its coast. As you travel inward, toward the center of this continent, you enter areas that are less populated and the more inward you go - the more remote things become.

Although this certainly presents a circumstance of uncharted adventure for you, you're strongly advised to stick to the cities along the outer limits unless you bring along an experienced guide. As long as you stick to the populated areas, you'll be fine and you may come to enjoy some of the most attractive sights in the world like:

The Great Barrier Reef - located off the northeastern coast of Australia, it's the largest coral reef in the world.

The Red Centre - home to the largest monolith in the world; otherwise known as the Ayers Rock.

Sydney - a popular city that offers Opera House entertainment plus the Bondi, Chinaman, and Manly beaches.

Melbourne - another city known for its stylish architecture, dining, and shopping

Canberra - the most modernized center of the world that serves as Australia's own capital as well.

Of course, you wouldn't want to miss Australia's own unique plant life either - a sight that you simply won't find anywhere else in the world. And because Australia is rich with distinctive plant life, you're bound to catch sight of some unusual animals that you've probably only seen in books!

This certainly isn't an extensive list of all your concerns, but hopefully, it answered some of your thoughts about traveling to this great land.
Find the Cheapest Flights to Australia
Travel by Bus

Australia's main cities can be well traveled by buses, as they frequently tour these areas on a regular basis. Moving about within urban and rural cities (up to 30 miles from city limits), you can visit some of the popular tourist attractions with discount tickets or ticket purchased directly from the bus driver.

Travel in Australia by Taxi

Traveling by taxi provides an extremely convenient way to move about when traveling short distances to important centers and residential districts. Like traveling by taxi in the United States, you can flag down a taxi anywhere in Australia including airports, train and bus stations, or even on the street.

Traveling in Australia by Car / Car Rental

Traveling by car rental in Australia is an inexpensive mode of traveling around the cities - especially since some car rental services in the area discount rentals that are arranged for three days or more. Rentals require a driver's license and a credit card that's issued to a driver between the ages of 23 to 70.
Author Bio
Every Car Hire in association with Auto Europe provides discounted car rental with leading rental companies such as Hertz, Alamo, Budget, and Europcar. For information on car hire or car rentals visit Every Car Hire at Car Hire Australia.
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MGM Grand Hotel Casino Las Vegas

2017-01-16T12:21:00.001+07:00

MGM Grand Las Vegas

Whether it's an exciting Cirque du Soleil show or a nightclub all night long, MGM Grand Las Vegas has the thrill to satisfy your craving.

Hotel Description

Imagine a hotel big enough to house flying acrobats, five pools and a quarter-mile lazy river. That's the MGM Grand Hotel and Casino — filled with tons of entertainment options. Billed as one of the largest hotels in the world, the MGM Grand offers enough entertainment to keep the whole family on their toes.

The hotel is home to KA, the famous Cirque du Soleil production that features mile-high acrobatics, martial arts, and imaginative puppetry. There are 5,000 rooms of every shape and size. Those in the Grand Tower are generously proportioned with custom black-and-white marble bathrooms and fluffy mattresses. The West Tower contains contemporary rooms with flat-panel TVs.

World-class dining includes 10 award-winning restaurants, including Joel Robuchon, Craftsteak by Tom Colicchio and more. The hotel's five pools of the Wet Republic span more than six acres, while the lazy river appears to have no end in sight. The casino is, as one would expect, enormous. There is also the newly added Hakkasan Las Vegas, a five-level culinary and nightlife mecca that serves modern Cantonese cuisine.

The MGM Grand has a convenient South Strip location in close proximity to The Crystals, a real-life retail fantasy. The MGM Grand also has its own stop on the Las Vegas Monorail. McCarran International Airport is two-and-a-half miles away. our guests rave about the "wonderful restaurants," the "convenient" Strip location and the "spacious" rooms at the "spectacular" MGM Grand.

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Forex Failure Or Success??

2013-07-07T17:28:00.000+07:00

You can make an incredibly profitable living via Forex trading. A combination of low minimum entry requirements and margin leverage mean that small investors can do extremely well in these markets. However, despite the best opportunities, plenty of people still lose out trading on the foreign exchance markets.

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There are a number of reasons this might happen. Here are six common ones that explain why many people who are new to Forex trading do poorly.

Unrealistic expectations - Many beginning traders read about the easy of entry and profit trading Forex and jump in before they're ready. This is a fast way to lose everything. Forex trading, like any legitimate business opportunity, won't make you rich fast. You'll still have to do a lot of research and put in the work required for success. Even if you do everything right, you can't expect everything you do to work out perfectly. It 's important to know when to cut your losses and pay attention to what works.

Insufficient research - While it 's easy to get into Forex trading, that doesn't mean you can master it overnight. While experienced traders can make everything seem simple, the prediction of currency prices can be fairly complex. Small investors are at a disadvantage, too. That 's because large financial institutions have many resources that aren't available to the individual, including a staff that can analyze recent economic indicators. Be prepared to spend a lot of time learning before you make a profit.

Viewing Forex as gambling, not investment - Don't think you can beat the system without doing some research. There 's nothing to be gained by choosing currency trades on a hunch and relying on your luck. People who do this will pick a few winners, make profits in the short term, then lose everything when their luck runs out.

Failure to focus - Depending on the broker you choose, you might be able to pick from several dozen currencies. However, when you're getting starting, stay small. Pick just a few of the most popular currencies to trade, like the Euro, US Dollar, or Yen. Focus on them exclusively, until you know what you're doing. Remember that the more currencies you trade, the more work you'll have to do to find trends. It 's a lot better to know just a few currencies well than to have a lot of currencies you're not educated about.

Failure to have a system - There are plenty of trading systems available, many free. Choose one that 's right for you, based on the money you have available, your trading goals, and the way you work. Working without a system is no more effective than throwing darts at a chart on the wall.

Failure to stay with the system - It 's not enough just to have a trading system. You have to stick with it, too - even when things aren't going the way you'd like. While this is easier said than done, remember not to get greedy or chicken out. Follow your system and find the best exit and entry points. Ignoring them means you risk missing a big upswing, or getting stuck in a trade that 's going south.

The best traders know that it 's more important to know when to get out of a trade than to know when to get in.

Start Learning HERE

Happy Independance Day AMERICA

2013-07-03T12:02:00.000+07:00

The Declaration of Independence: A Transcription

IN CONGRESS, July 4, 1776.

The unanimous Declaration of the thirteen united States of America,
When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which the Laws of Nature and of Nature's God entitle them, a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation.
We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.--That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness. Prudence, indeed, will dictate that Governments long established should not be changed for light and transient causes; and accordingly all experience hath shewn, that mankind are more disposed to suffer, while evils are sufferable, than to right themselves by abolishing the forms to which they are accustomed. But when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security.--Such has been the patient sufferance of these Colonies; and such is now the necessity which constrains them to alter their former Systems of Government. The history of the present King of Great Britain is a history of repeated injuries and usurpations, all having in direct object the establishment of an absolute Tyranny over these States. To prove this, let Facts be submitted to a candid world.

He has refused his Assent to Laws, the most wholesome and necessary for the public good.
He has forbidden his Governors to pass Laws of immediate and pressing importance, unless suspended in their operation till his Assent should be obtained; and when so suspended, he has utterly neglected to attend to them.
He has refused to pass other Laws for the accommodation of large districts of people, unless those people would relinquish the right of Representation in the Legislature, a right inestimable to them and formidable to tyrants only.
He has called together legislative bodies at places unusual, uncomfortable, and distant from the depository of their public Records, for the sole purpose of fatiguing them into compliance with his measures.
He has dissolved Representative Houses repeatedly, for opposing with manly firmness his invasions on the rights of the people.
He has refused for a long time, after such dissolutions, to cause others to be elected; whereby the Legislative powers, incapable of Annihilation, have returned to the People at large for their exercise; the State remaining in the mean time exposed to all the dangers of invasion from without, and convulsions within.
He has endeavoured to prevent the population of these States; for that purpose obstructing the Laws for Naturalization of Foreigners; refusing to pass others to encourage their migrations hither, and raising the conditions of new Appropriations of Lands.
He has obstructed the Administration of Justice, by refusing his Assent to Laws for establishing Judiciary powers.
He has made Judges dependent on his Will alone, for the tenure of their offices, and the amount and payment of their salaries.
He has erected a multitude of New Offices, and sent hither swarms of Officers to harrass our people, and eat out their substance.
He has kept among us, in times of peace, Standing Armies without the Consent of our legislatures.
He has affected to render the Military independent of and superior to the Civil power.
He has combined with others to subject us to a jurisdiction foreign to our constitution, and unacknowledged by our laws; giving his Assent to their Acts of pretended Legislation:
For Quartering large bodies of armed troops among us:
For protecting them, by a mock Trial, from punishment for any Murders which they should commit on the Inhabitants of these States:
For cutting off our Trade with all parts of the world:
For imposing Taxes on us without our Consent:
For depriving us in many cases, of the benefits of Trial by Jury:
For transporting us beyond Seas to be tried for pretended offences
For abolishing the free System of English Laws in a neighbouring Province, establishing therein an Arbitrary government, and enlarging its Boundaries so as to render it at once an example and fit instrument for introducing the same absolute rule into these Colonies:
For taking away our Charters, abolishing our most valuable Laws, and altering fundamentally the Forms of our Governments:
For suspending our own Legislatures, and declaring themselves invested with power to legislate for us in all cases whatsoever.
He has abdicated Government here, by declaring us out of his Protection and waging War against us.
He has plundered our seas, ravaged our Coasts, burnt our towns, and destroyed the lives of our people.
He is at this time transporting large Armies of foreign Mercenaries to compleat the works of death, desolation and tyranny, already begun with circumstances of Cruelty & perfidy scarcely paralleled in the most barbarous ages, and totally unworthy the Head of a civilized nation.
He has constrained our fellow Citizens taken Captive on the high Seas to bear Arms against their Country, to become the executioners of their friends and Brethren, or to fall themselves by their Hands.
He has excited domestic insurrections amongst us, and has endeavoured to bring on the inhabitants of our frontiers, the merciless Indian Savages, whose known rule of warfare, is an undistinguished destruction of all ages, sexes and conditions.

In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people.
Nor have We been wanting in attentions to our Brittish brethren. We have warned them from time to time of attempts by their legislature to extend an unwarrantable jurisdiction over us. We have reminded them of the circumstances of our emigration and settlement here. We have appealed to their native justice and magnanimity, and we have conjured them by the ties of our common kindred to disavow these usurpations, which, would inevitably interrupt our connections and correspondence. They too have been deaf to the voice of justice and of consanguinity. We must, therefore, acquiesce in the necessity, which denounces our Separation, and hold them, as we hold the rest of mankind, Enemies in War, in Peace Friends.
We, therefore, the Representatives of the united States of America, in General Congress, Assembled, appealing to the Supreme Judge of the world for the rectitude of our intentions, do, in the Name, and by Authority of the good People of these Colonies, solemnly publish and declare, That these United Colonies are, and of Right ought to be Free and Independent States; that they are Absolved from all Allegiance to the British Crown, and that all political connection between them and the State of Great Britain, is and ought to be totally dissolved; and that as Free and Independent States, they have full Power to levy War, conclude Peace, contract Alliances, establish Commerce, and to do all other Acts and Things which Independent States may of right do. And for the support of this Declaration, with a firm reliance on the protection of divine Providence, we mutually pledge to each other our Lives, our Fortunes and our sacred Honor.

IS THE DOLLAR AT RISK-FOMC

2013-06-16T15:16:00.000+07:00

More Fed Easing May cause the Dollar to drop another 20%
(Reuters) -
The dollar is in danger of losing 20 percent of its value over the next few years if the Federal Reserve continues unconventional monetary easing, Bill Gross, the manager of the world's largest mutual fund, said on Monday.
"I think a 20 percent decline in the dollar is possible," Gross said, adding the pace of the currency's decline was also an important consideration for investors.
"When a central bank prints trillions of dollars of checks, which is not necessarily what (a second round of quantitative easing) will do in terms of the amount, but if it gets into that territory --- that is a debasement of the dollar in terms of the supply of dollars on a global basis," Gross told Reuters in an interview at his PIMCO headquarters.
The Fed will probably begin a new round of monetary easing this week by announcing a plan to buy at least $500 billion of long-term securities, what investors and traders refer to as QE II, according to a Reuters poll of primary dealers.
"QEII not only produces more dollars but it also lowers the yield that investors earn on them and makes foreigners, which is the key link to the currencies, it makes foreigners less willing to hold dollars in current form or at current prices," Gross added.
To a certain extent, that is what the Treasury Department and Fed "in combination" want, said Gross, who runs the $252 billion Total Return Fund and oversees more than $1.1 trillion as co-chief investment officer.
"The fundamental problem here is that our labor and developed economy labor relative to developing economy labor is so mismatched -- China can do it so much more cheaply," he said.
Many Americans believe that the Chinese government is manipulating its currency and in effect stealing away American jobs and throwing the U.S. in an ever-deepening trade deficit. But Gross said this is a byproduct of a globalized economy.
"It is a globalized economy of our own doing for the past 20-30 years. We encouraged all of this, but it is coming back to haunt us. To the extent that Chinese labor, Vietnamese labor, Brazilian labor, Mexican labor, wherever it is coming from that that labor is out competing us and holding down our economy," he said.
Gross added: "One of the ways to get even, so to speak, or to get the balance, is to debase your currency faster than anybody else can. It's a shock because the dollar is the reserve currency. But to the extent that that is a necessary condition for rebalancing the global economy overtime, then that is where we are headed."
"Other countries and citizens are willing to work for less and willing to work harder -- and we forgot the magic formula somewhere along the way," Gross said.
In that regard, Americans should be investing a lot more overseas than they are to find growth as the U.S. remains in a slowish-growth environment, he said.
"Pension funds and Americans, in general, have a problem because their liabilities are dollar-denominated. It's probably worth the risk of getting out of dollars and getting into emerging countries and going where the growth is. All of which entails risk relative to the home country. But there's probably a bigger risk in simply staying comfortably within the confines of dollar-based investments."

Below is the dollar index from my broker and you should have a chart on this index if you are trading any of the usd crosses. You can see in the weekly and the daily charts that we are no where near historic lows but we are getting very close to important support levels and the 200 day moving average (pink line). This is definatly worth watching in lew of the feds next moves. We will be watching for two things. 1. A bounce. 2. A breakout. Keep your eyes on this

TAKE YOUR TRADING TO THE NEXT LEVEL

Screen capture by INK2GO

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Japan's Abe unveils economic blueprint-ZEN with the YEN

2013-06-05T13:27:00.000+07:00

Japanese Prime Minister Shinzo Abe on Wednesday unveiled a flood of fresh economic policies to revive his nation's economy, including plans to allow public pension funds to buy more stocks and creating special economic zones to spur foreign investment, according to reports. Abe reportedly said his policies would raise average income by 3%, outpacing the 2% inflation Japan hopes to achieve within the coming two years. Among other measures, Abe said he would seek to triple public-private financing of infrastructure by 2020, and ease building codes to allow new, large apartment blocks in city centers, as well as boost the number of women in the workforce and consolidate small farms, according to various accounts of the policy address. However, a lack of details on the policy objectives helped send stocks -- which had gained at the start of Abe's speech -- tumbling, with the yen rising sharply. The measures in Abe's Wednesday address represented the "third arrow" of Abe's three-prong push to boost economic growth and shed persistent deflation -- the others being massive fiscal stimulus and securing agressive new monetary easing from the Bank of Japan.

AUDJPY- BEARISH D1

AUDJPY- BEARISH 1HR

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Screen capture by INK2GO

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YEN ZEN- A CORRECTION OR A REVERSAL

2013-05-26T16:24:00.000+07:00

The Japanese Yen bounced back against its U.S. counterpart, with the USDJPY tagging a weekly low of 100.82, and the near-term pullback may turn into a larger correction as the Bank of Japan (BoJ) appears to scaling back its aggressive approach in achieving the 2% target for inflation. At the same time, Economy Minister Akira Amari warned that a further depreciation in the local currency can ‘negatively’ affect Japanese households, and went onto say that the ‘excessive Yen gains have been corrected a lot’ as the exchange rate trades above the 103.00 figure for the first time since 2008.

USDJPY D1

I will be looking for continued correction to the 38.2 or the 50.0 FIB were there is good confluence with D1 Horizontal and Leaning support. If price breaks the 50 fib and the trend line I will look to trade the trend collapse

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TREND COLLAPSE STRATEGY

Indeed, the BoJ Minutes struck a rather neutral tone for monetary as the board pledged to adjust monetary policy as need, and it seems as though Governor Haruhiko Kuroda will carry a wait-and-see approach into the second-half of the year as the central bank head looks to avoid ‘excessive volatility’ in the debt market. As the BoJ raises its fundamental assessment of the Japanese economy for the fifth consecutive month, the central bank anticipates price growth to ‘gradually turn positive’ over the policy horizon, and the board may retain its current policy stance at the June 11 meeting as Mr. Kuroda argues that the central bank has announced sufficient monetary easing to stem the risk for deflation. As we have a slew of Japanese policy makers scheduled to speak in the week ahead, we may see a growing number of central bank officials curb their willingness to introduce more non-standard measures, and the Consumer Price report on tap for the following week may continue to dampen speculation for additional monetary support as the headline reading for inflation is expected to contract at a slower pace in April. However, the BoJ may have little choice but to further embark on its easing cycle in the second-half of the year as there remains a ‘high degree of uncertainty’ surrounding the world’s third-largest economy, and we may see the central bank included a broader range of asset classes in its quantitative easing program in an effort to encourage a stronger recovery.

As the Relative Strength Index on the USDJPY continues to come off of overbought territory, the pullback from 103.72 may gather pace in the days ahead, but former resistance around the 100.00 handle may serve as interim support amid the deviation in the policy outlook. In turn, we may see the dollar-yen carve out a higher low ahead of June, but correction may evolve into a large reversal should we see the BoJ strike a less-dovish tone for monetary policy.

Have a GOOD WEEK

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Talking points by DailyFx
Chart by: GG
Screen capture by INK2GO

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THE POUND GETS HAMMERED ON BAD NEWS FROM UK

2013-05-21T17:35:00.000+07:00

UK annual inflation fell to a seven month low, thereby alleviating some of the pressure on the Bank of England to refrain from taking actions that would raise prices above target.

Consumer prices rose 2.4% from April 2012, lower than expectations for prices to rise 2.6% annually, and down from the 11-month high 2.8% inflation rate seen in March. Consumer prices only rose 0.2% over the month of April, according to the Office for National Statistics.

The annual producer price index for inputs declined to -0.1% in April. Retail prices rose 0.3% over the course of April. UK house prices rose 2.7% from March 2012.

The Bank of England said in April that it expects inflation to reach 3.1% by the third quarter of this year.

The inflation rate remaining above the BoE’s target 2% inflation rate may have prevented the BoE from raising quantitative easing in the previous months. Should inflation continue to fall in the coming months, chances of further monetary action may increase, which wouldexplain today’s drop in Pound following the lower than expected inflation release.

The Pound fell about thirty points and below 1.5200 against the US Dollar, following the release. GBP/USD may now see support by the key 1.5000 figure, resistance may be provided by a broken support line around 1.5200.

GBPUSD 1Hr Chart

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Chart by GG

Screen capture by INK2GO

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The AUD and RBA- to Cut or Not to Cut-free video

2013-05-05T14:34:00.000+07:00

The Australian Dollar will turn its focus to domestic matters once again in the week ahead, with traders setting their sights on the Reserve Bank of Australia’s monetary policy announcement amid rising interest rate cut expectations. Data compiled by Credit Suisse suggests the markets now see a 57 percent probability of a 25bps reduction in the benchmark lending rate, meaning investors’ outlook is at its most dovish since early February. Longer-term expectations are their least supportive since the beginning of December 2012, calling for at least 60bps in accommodation over the coming 12 months.

The fundamental backdrop offers compelling-enough evidence to support the case for stimulus. Australian economic data has shown signs of meaningful deterioration relative to consensus forecasts since April’s RBA sit-down. More worrying still, activity indicators out of China are showing signs of deterioration. The East Asian giant is Australia’s largest trading partner and arguably the most significant source of demand underpinning the pivotal mining sector. This coupled with the negative impact of the relatively strong exchange rate on Australia’s terms of trade bodes ill for the export sector and economic growth at large.

Enjoy the video.

AUDUSD- Bearish- WAIT

The outlook for inflation also offers the RBA some room to maneuver: while CPI has been ticking higher, price growth expectations baked into government bond yields point to price growth within the 2-3 percent target range over the medium term (generally quantified as about 3 years forward). That seemingly gives the central bank enough room to lower the lending rate in the near term without compromising longer term price stability.

Although rate cut expectations have certainly firmed over recent weeks, there seems to be enough room for ambiguity to produce a meaningful negative response from the Australian Dollar if the central bank does opt to issue a rate cut. This makes for the possibility of a significant trend reversal considering AUDUSD is trading in relatively close proximity to the multi-month range bottom just below the 1.02 figure. An interest rate cut may be just the thing to force a critical downward breakout, a development that would beckon follow-through and potentially mark a longer-term regime change for the Australian unit.

If the RBA opts to remain on hold, the language of the policy statement will become critically important as investors size up the likelihood of a rate cut at the June meeting. It will likewise turn the spotlight on April’s Employment report. Expectations call for the economy to add 11,000 jobs in April after the previous months dismal 36,000 decline marked the worst monthly reading in a decade. Recently disappointing news-flow suggests economists are still underestimating the degree of slowdown at play in the Australian economy, opening the door for a downside surprise. While such an outcome will be moot if the RBA cuts rates, it may carry substantial scope for Aussie weakness if the central bank remains on hold while offering clues about possible future stimulus expansion.

Talking points by Dailyfx

Video by GG

Screen capture by INK2GO

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Is the GBP in for a Bull Run or is this just a Pullback??

2013-04-08T01:31:00.000+07:00

The British Pound broke out of the range carried over from the previous week, with the GBPUSD climbing to a fresh monthly high of 1.5362, and the sterling may continue to retrace the sharp decline from earlier this year as the Bank of England (BoE) maintains a neutral stance for monetary policy. Indeed, the BoE kept the benchmark interest rate at 0.50% while maintaining its asset purchase program at GBP 375B, but refrained from releasing a policy statement once again as the Monetary Policy Committee sticks to the sidelines.

In turn, the BoE Minutes due out on April 17 may reveal another 6-3 split within the central bank, and the majority may continue to endorse a neutral policy stance for 2013 as the committee sees a slow but sustainable recovery in Britain. Although the BoE pushed U.K. lenders to raise GBP 25B in fresh capital, Chief Economist Spencer Dale still expects bank lending to pick up this year as the Funding for Lending Scheme continues to work its way through the real economy. Moreover, Standard and Poor’s reaffirmed the AAA credit-rating for the U.K. even as the group held a negative outlook for the region, and the British Pound may continue to track higher in the days ahead as the economic docket for the following week is expected a rebound in business outputs, while the British Retail Consortium’s gauge for retail sales is projected to increase another annualized 1.0% in March. As the pickup in private sector activity raises the outlook for growth and inflation, we may see a growing number of BoE officials adopt a more hawkish tone for monetary policy, and we may see the central bank slowly move away from its easing cycle later this year as the U.K. is expected to avoid a triple-dip recession.

As the GBPUSD climbs back above former support – the 50.0% Fibonacci retracement from the 2009 low to high around 1.2560 – the rebound from the yearly low (1.4830) looks poised to gather pace over the near-term, and we may see a run at the 38.2% retracement (1.5680) as the BoE refrains from expanding the balance sheet further. Indeed, narrowing bets for more quantitative easing instills a bullish outlook for the British Pound, but we may see a growing number of investors treat the sterling as a safe-haven amid the ongoing turmoil in the euro-area.

Talking points by DailyFx

Chart By GG

BoJ Meets with Kuroda Buy-Sell or WAIT???

2013-03-31T00:26:00.001+07:00

The Japanese Yen was a top performer this week, surging by over +1.60% against the Euro, while adding a mere +0.30% against the US Dollar. The flight to safety was certainly a theme this past week, as poor handling of the Euro-zone crisis by policy officials resulting from the controversial Cypriot bailout kept tensions over the Euro-zone sovereign debt crisis at a relatively high level. The official at fault for stoking rising volatility in Europe – not just for the Euro, but for the other European currencies, Italian and Spanish bonds, and equity indexes across the continent – Eurogroup President Jeroen Dijsselbloem may have strong intentions and long-term positive intentions with his rhetoric, but the near-term implications of using Cyprus as a “template” for the region’s financial crisis has soured investors’ appetite for risk.

USDJPY-D1

While the Yen has benefited from the renewed drive to safety, there are certainly domestic concerns that are persisting that are preventing a true turnaround in the worst performing currency of 2013. In contrast to the Euro-zone debt crisis rearrising, which is a bullish accelerant for the Yen, the Bank of Japan under the watchful eyes of Haruhiko Kuroda convenses this week, which is the single most bearish catalyst facing the Yen at present time. The balance of these two issues leads us to a neutral outlook for the week ahead.

Ahead of the meeting during the first week of April, traders have clearly tempered their enthusiasm about selling the Yen in droves, as they had been from mid-November to early-March: from November 14, the day that the Japanese elections in December were announced and it became clear that Shinzo Abe would become prime minister, to March 11, the day the USDJPY peaked, the Yen shed -22.90% against the Euro, and -19.98% against the US Dollar; since March 11, the EURJPY has fallen by -3.83% and the USDJPY has dropped by -2.14%. Making the Yen’s rebound even more curious – withstanding the much-needed technical relief – was that Mr. Kuroda took the reigns of the BoJ from Masaaki Shirakawa on March 19. The Yen has gained against all of the majors but for the New Zealand Dollar since the arch-dove himself rose to power.

While there is no doubt that Mr. Kuroda will step up the BoJ’s dovish rhetoric and policy actions in the coming months, there is a slight impediment persisting from now until April 8 that has prevented any new policy action thus far: the technicality of Masaaki Shirakawa resigning early on March 19 (Kuroda needs to finish Shirakawa's term). Hence, when considering Kuroda's likelihood path of easing, he's going to implement policies that aren't too controversial, as he does need to be reelected after April 8. If he sets forth policies that are too dovish, he and his deputy governors could lose favor quickly among the main opposition DPJ, especially Kikuo Iwata, who was nearly voted down.

Nevertheless, earlier this week, Governor Kuroda made clear that two things will happen in his tenure: the BoJ will hit its inflation target of +2.0% y/y within two years; and resulting from the increased inflation target, increased asset purchases, likely including Japanse Government Bonds (JGBs). In this interim period before April 8, we should expect Kuroda's BoJ to first increase its monetary easing program. If increased asset purchases don't stoke medium-term inflation (they won't), Kuroda's BoJ will wait until after the next round of confirmations before accelerating the Shirakawa-mandated open easing timeline from January 2014 to midyear 2013. It is likely that any announcement this week could disappoint even the most earnest of Yen bears. As such, our forecast is neutral, as the BoJ policy meeting could present a bearish influence for the first half of the week, while exhaustion following the event and the return of the Euro-zone crisis could present a bullish influence.

Talking points by Dailyfx

Chart by GG.

MARCH MADNESS-OR NORMAL FOR FOREX???

2013-03-17T12:37:00.000+07:00

We are well into the first half of the month and well we have had a couple of decent trades.

BUT, this next week is going to be a catalyist to possible getting things kicking. Here are some important talking points and events that you will need to keep your eyes on before you pull the trigger and enter a trade.

Dollar Takes a Critical Turn Into Weekend, Key Fed Decision Ahead

The Dow Jones FXCM Dollar Index (ticker = USDollar) suffered a considerable, bearish blow through the end of this past week. A drop for the greenback on Friday insured the shift in momentum was felt by the market. For the USDollar Index, the slide ensured a red close through the end of the week – bringing an end to the record-breaking eight-week climb that preceded the drop. Furthermore, we have seen the tentative follow through stoke serious reversal threats for key major pairings like EURUSD above 1.3000, GBPUSD above 1.5000 and USDCAD below 1.2200. Given the dollar’s advance in spite of the positive bearings in risk trends, there is certainly a lot of room the benchmark currency to retreat. However, direction and momentum depend on two, other serious fundamental threats: risk appetite and the Fed rate decision.

Looking back over the dollar’s more than 5 percent advance since the beginning of the year, the most remarkable aspect of the drive is its conflict to traditional fundamental trends. As the world’s favored safe haven, the dollar would normally drop as benchmarks like the S&P 500 (sensitive to speculative appetites) advanced. The currency’s slide through the second half of this past week looks like it is attempting to close that gap. However, if there is anything more fundamentally mispriced than the dollar it would be positioning in ‘risk’ itself. The Dow equity index’s epic, 10-day straight advance – the longest run in 16-year years – came to an end with Friday’s slip; but that does not immediately signal a shift in confidence. Sentiment can be redefined by a range of possible catalysts, but the most potent spark is risk’s own support: stimulus.

On Wednesday, we are going to revisit a topic that caused a considerable stir back in late January – framing expectations for the inevitable downshift and/or end in the Fed’s extensive stimulus regime. More than just the regular Federal Open Market Committee’s policy decision, this March meeting will also carry with it the policy body’s forecasts for growth, inflation and interest rates as well as Chairman Ben Benanke’s testimony. There is very little chance that we will see the finish line on monetary easing next week, but we don’t need to. Speculators are looking for any hint of the approximate end to the influential program. After the drop in the jobless rate to a 4 year low, it may come before 2013 ends.

Euro: How Will the Markets React to the Cyprus Bailout?

Yet again we were delivered a critical weekend update from Europe. And, this one is just as troubling – if not more – than the news of a gridlocked Italian government and downgrade for the United Kingdom. Extending their discussion through Saturday morning, European Union officials finally emerged with a deal for Cyprus’ bailout. The €10 billion in assistance the EU members and IMF initially reported was smaller than the €17 billion officials said was needed to fill the void the country’s financial system was facing, but they had a plan to compensate. In a remarkable upgrade to the region’s ‘crisis fighting’ toolkit, Eurogroup President Dijsselbloem announced that a ‘bank levy’ will be placed on foreign and domestic deposits. The 9.9 percent levy on accounts over €100,000 and 6.75 percent below that mark is a bold step in the Eurozone’s ongoing financial fire fight. As much as this can close the gap without promoting further ire from taxpayers in other countries, it can potentially spark a panic amongst investors and citizens in the region. Regardless of Cyprus’ size or influence in the economic and monetary union, a dangerous precedence could be interpreted in this move. Despite vows that this was a unique situation, what is the likelihood that this could be an option in Greece if ‘regular’ measures keep falling short? Could it be an option for a ‘core’ member? Watch the Euro on the open.

British Pound Responds to Material Shift in Stimulus HopesFear of a impending wave of stimulus has driven the British pound sharply lower against the US dollar and Euro these past few months, but how realistic are these concerns? This past week, Bank of England (BoE) Governor seemed to back off the pressure when he said the pound was close to fair value (even if he did say there was justification for further easing). Moving forward, we have critical reads on the stimulus expectations. Chancellor Osborn will present the 2013 budget which many think will also carry a remit for the BoE. Watch the docket.

Japanese Yen Traders on Alert for News of ‘Emergency’ BoJ Meeting

The yen has dropped nearly 25 percent against the benchmark dollar over the past six months on expectations. Threats and warnings of a massive stimulus program that would rival the terrible might of the Fed’s Quantitative Easing (QE) moves finally forced the market to take Japanese policy officials’ warnings seriously. Now, it’s time for the central bank to put its money where its mouth is. On Tuesday (March 19), BoJ Governor Shirakawa and his two Deputy Governor step down to be replaced by Kuroda and his two lieutenants – policy drivers the lot of them. Given their level of talk, there is no doubt expectation of an immediate satisfaction to speculative assumptions. And if they don’t…

New Zealand Dollar Looks to GDP Reading to Confirm RBNZ Fears

This past week, the Reserve Bank of New Zealand hit its currency where its fundamental value lies – the yield. When Governor Wheeler said that he expects rates to be held through 2013 and that the kiwi dollar is 10-15 percent overvalued, he undermined the true appeal of a currency that is otherwise out of its depth amongst the majors: its investment value. The RBNZ shifted the outlook for the next move to be a rate hike to a rate cut. Now, we will look at indicators like the 4Q GDP reading due late Wednesday for its ability to further the need for easing.

Australian Dollar: Rate Outlook Improves but Watch Demand

With the strong employment data this past week, we have seen the interest rate outlook for Australia finally stabilize. The cumulative 9 basis points of easing seen over the coming 12 months through swaps is the most restrained we have seen since July 2011. What matters now is measuring actual demand. We can do that by watching the 10-year bond auction on Wednesday and action in the secondary bond market.

Gold Volume Collapses, Volatility Near Record Low as Metal Flatlines

Volume floundered for gold this past week – posting the weakest pace of turnover so far this year – as the metal once again failed to make meaningful progress. The CBOE’s Gold Volatility Index is just off series’ lows and net speculative futures interest is holding near multi-year lows. We need a catalyst. News that the Fed is heading for an exit would be gold bearish, but BoJ stimulus or Euro-area financial fear is bullish.

Talking points by Dailyfx
Photo by -Las Vegas March Madness

British Pound Fall is it the Real Deal

2013-02-24T17:23:00.002+07:00

The British Pound finished the week at fresh multi-year lows against the US Dollar as a surprising Bank of England vote tally warned that the central bank may soon initiate further Quantitative Easing (QE) and devalue the domestic currency.

GBPUSD MN

A break below key technical support suggests that the British Pound may continue lower through the foreseeable future, and indeed major forex dealers reported a surge in GBPUSD volume as it traded below the key $1.53 mark. A revision to Q4 UK Gross Domestic Product figures will headline event risk for an otherwise quiet economic calendar, but a recent jump in overall forex volatility suggests the GBPUSD could see big moves ahead.

Bank of England Monetary Policy Committee (MPC) meeting minutes sunk Cable as it emerged that outgoing BoE Governor Mervyn King voted for expansion QE measures at its Feb 7 decision. The MPC left policy unchanged with a 6-3 vote, but the damage was done and the British Pound fell 100 pips in the 15 minutes that followed.

GBPUSD W1

A dovish BoE was the straw that broke the camel’s back and pushed the GBP beyond 2012 lows, and our proprietary retail FX trader positioning data shows that smaller traders have bought aggressively into GBPUSD declines. Yet institutional speculative and commercial traders had previously been far less active in the GBPUSD trade; CFTC Commitment of Traders data showed that large speculative and commercial positioning has actually remained fairly balanced.

Why is this important? It suggests that there is significant room for selling, and the British Pound could fall much further if this is really the major break of a multi-year trading range. It certainly feels like the British pound has fallen substantially, but we have to remember that the pair has traded in a relatively narrow 1000-pip range through the past two and a half years.

GBPUSD D1

Markets don’t move in one direction, and even the dramatic GBP sell-off does not guarantee that it will hit further lows in the week ahead. The risk of short-term correction is high as the Pound has fallen through 5 of the past 6 trading weeks. An overall jump in FX market volatility nonetheless favors continuation of recently-sharp US Dollar rallies across the board.

Keep an eye on a potential for a number of UK economic data releases to force short-term pullbacks in GBP pairs, but we believe that current sentiment and positioning measures suggest the British Pound may finally break out of its multi-year range. Indeed, several of our sentiment-based trading strategies continue to sell the GBP against the US Dollar and Japanese Yen.

Talking Points by dailyfx
Charts By GG.

CURRENCY WAR AND THE G-20 SUMMIT

2013-02-17T12:46:00.001+07:00

The Group of 20 finance ministers and central bank governors on Saturday pledged to monitor negative currency spillovers to other countries caused by monetary policies implemented for domestic purposes.

“We will refrain from competitive devaluation,” the G-20 said at its meeting in Moscow.

The G-20 fell short of any direct action related specifically to Japan, which has drawn criticism for policy moves that have caused the yen to lose 17.5% against the dollar in five months.

While a weaker yen helps keep prices of Japanese exports lower on the international market, it’s also unleashed talk of a race to the bottom in currencies.

French Finance Minister Pierre Moscovici said the language in the statement amounted to a pledge that “we refuse to enter any currency war,” according to reports.

Canadian Prime Minister Jim Flaherty said leaders agreed to strengthen language since discussions earlier in the week.

Christine Lagarde, managing director of the International Monetary Fund, said talk of currency wars “is overblown” and praised the G-20 for responding with cooperation rather than conflict.

“It was heartening to see the G-20 reaffirmed its commitment to move more rapidly toward more market-determined exchange rate systems and exchange rate flexibility to reflect underlying fundamentals,” Lagarde said in a prepared statement.

The G-20 also put off plans for new debt-cutting goals in a move to stoke economic growth.

“Monetary policy should be directed toward domestic price stability and continuing to support economic recovery,” the G-20 said. “We commit to monitor and minimize the negative spillovers on other countries of policies implemented for domestic purposes.”

The G-20 statement follows on the heels of drama in the currency market, with the yen on a roller-coaster ride earlier this week
G-7 officials reaffirmed their “long-standing commitment to market determined exchange rates and to consult closely in regard to actions in foreign exchange markets.” See G-7 statement from Feb. 12.

Meanwhile, the European Central Bank has attempted to assure markets the euro won’t be allowed to appreciate to the point where it hinders an economic recovery.

G-20 takes aim at tax avoidance by corporations

G-20 officials continued their push for an international effort to limit the ability of multinationals to transfer profits overseas to cut their tax payments.
”We are determined to develop measures to address base erosion and profit shifting,” the G-20 said.
The Organization of Economic Cooperation and Development plans to present an action plan to the G-20 in July on this front.
The policy talk comes as Facebook, Amazon.com, Google, Starbucks and others have drawn scrutiny for tax strategies.

www.marketwatch.com

THE LONDON OPEN- HOW TO TRADE IT

2013-01-29T19:50:00.000+07:00

Well it is the last week of the first month of 2013 and we have seen some explosive moves on some pairs and a slow start to the year for some pairs. As everyone puts there earnings for Q4 of 2012 into the history books we should start to see a more fluid market and things should start to get more predictable. Maybe???

Here is a strategy that I love to trade on the intraday charts. It is a very reliable strategy and could posible be a tool you can use in your traders toolbox.
The London Breakout
Anyone that has been trading for any length of time knows that the London session is the most active.
Trading this time frame can be the most profitable of all the forex sessions. There is a particular strategy that I like to use at the open of the London. It is the London open Breakout. This strategy works in any market condition. Ranges, Trends, Reversals. It is an Intraday Strategy and is traded using the 1hr and the 15 min charts. Below I have a special video that goes over the strategy.

Enjoy it and let me know if you liked it. I am always looking for more tools to pass on to other traders.

THE LONDON BREAKOUT STRATEGY-POWERFUL STUFF

Ok the Video is done and you want to learn more about THE LONDON BREAKOUT.
Just click the link below and take your trading to a new level. I personally use this and many other strategies in my everyday trading. They do work.

Here is the link to Learn More on the London Breakout and more

Again let me know if you liked this and share it with a friend.

Thank you

I CAN NOT RISK MORE THEN 50 PIPS

2013-01-27T14:06:00.000+07:00

I recently posted an opportunity for people to watch a webinar trading strategy on how to spot and trade a "FAKE BREAKOUT". The one concern I got for feedback was that this is a strategy best used on longer time frames. ie..Daily, Weekly etc... and having to use a larger SL to trade. I have used the strategy as low as the 4hr charts. But, Hector is correct about the random noise on the lower time frames that may give false signals when trading the Strategy he has shown below the daily charts.

So what about trading on longer time frames and limiting yourself by only allowing for a max of 50 pips for a SL. I personally do not limit my trades based solely on how many pips I can risk
But first how many pips I can win in any particular trade. Or what is my Risk To Reward Ratio(RR) For example I see a trade set up that has a potential gain of 100 pips. I have to set my SL 50 pips from entry to allow breathing room. So my effective RR is 2 to 1. It is a valid trade based on the Money Management rules I have of a min 1.4 to 1 RR ratio. Ok so what if I had to have a 60 pip SL?? Some will not take the trade solely based on the SL rather then on the Reward associated with the risk. Lets get deeper into this when setting up a trade by example.

Let say you have a 1,000 Micro account and you are only willing to risk 3% of your account on any given trade. That is 30.00 of what ever money you are using. But for this one lets use US$
I spot a trade on the AUDUSD that requires a 30 pip stop to allow for breathing room and the trade has a potential to go 60 pips. Valid based on my RR. Ok so I want to risk $30 for possible $60.
How many lots can I trade to maintain this. 10 micro lots right?? yes.

Ok now lets look at this same pair that requires a 60 pip SL to go 120 pips. UH OH can't trade this because it is more then 50 pips SL. Well, that is not true you can in fact still trade this maintaining your MM rule of only risking 3% or 30 bucks. How?? LOWER YOUR LOT SIZE. That simple.

To trade this how many lots can you trade still maintaining your 3%?? That would be half of what you traded on the first trade with a 30 pips stop. Yes 5 MICRO LOTS. You do not well, I do not limit my trades based on how big my SL can be But what my RR is. I mean if I have a weekly setup my stop may be 120 pips or more but my gain could be 250 pips or more possible 1,000s on a Weekly trade.

So there it is, you can in fact have a larger SL and still keep your MM and risk in check. Now you ask how am I going to calculate this every time I have a trade setup. Here is what I use. This is one cool tool. You tell it how much you have in your account, What you want to risk in a percentage, How many pips is your SL, the type of account you are trading IE..Std,mini,micro and it will tell you how many lots to trade to maintain your MM rules. Some may already be using it or have never seen it. Yes it is Free.

Click here and go get this wonderful free tool from Currensys.com

Let me know what you think and good luck trading.

What is next For the Yen?? +2.0% Inflation

2013-01-19T20:37:00.001+07:00

BoJ Set to Unveil +2.0% Inflation Target, More Easing – Does Yen Bottom?

The Japanese Yen had another soft week, but it was not the worst performing major currency. Instead, that title goes to the Swiss Franc, which the Yen paced by +1.21%. It was also slightly stronger against the British Pound, which it gained +0.61% against. That’s where the good news ends. The Japanese Yen lost -0.75% or more to four major currencies, including another -1.03% against the US Dollar; the USDJPY closed the week at 90.10, its highest weekly close since the week of June 20, 2010. The main reason for Yen weakness, as it has been since mid-November, when then-Prime Minister Hiroshiko Noda announced it would hold elections in mid-December, at which point it time it became clear that Japanese polls were heavily biased in favor of a victory to current Prime Minister Shinzo Abe.

Learn how to trade Forex when there are news announcements

PM Abe has proved to be nothing short of the man he promised to be, going so far as to demand almost on the daily basis that the Bank of Japan implement a +2.0% yearly inflation target – double the current target of +1.0% y/y - and well-above the current headline rate of -0.2% y/y (the National CPI on Thursday will show -0.2% y/y as well, according to a Bloomberg News survey). Needless to say, to spur inflation of this magnitude will take a significant amount of easing, with the BoJ even going so far as having scope to implement negative interest rates in the near-future.

According to the newspaper The Nikkei, the BoJ and government are going to reach agreement on the next steps to take, one of which will be a ¥10 trillion addition to the asset purchase program (this complements the government’s ¥10.3 trillion stimulus package announced prior this month). Yet despite all of this blatant market manipulation, the Yen’s path is unclear; we must take a neutral outlook for this week, but acknowledge that there are three likely scenarios, two ultimately bullish over the next few weeks, and one bearish for the remainder of the 1Q’13.

It is worth pointing out that the Japanese Yen is very oversold. In fact, according to the CTFC’s COT report, net non-commercial futures positioning is just coming off of its its shortest level since July 2007; the short trade is very crowded and a significant unwind still needs to occur. A look at the weekly chart shows that the USDJPY hasn’t posted a negative period since the first week of November. In fact, last week’s RSI was above 80 – the last time that happened was in December 2005, which produced a pullback of >500-pips. Conditions are ripe for the turnaround; a catalyst is needed for a bullish move by Yen.

TAKE CONTROL OF YOU FINANCIAL FUTURE LEARN HOW TO TRADE WITH THE PROS

Thus, the most bullish scenario this week is that the aforementioned measures are taken – expectations are met – leading to a period of profit taking. This would not be unusual: the Dow Jones Dollar Index bottomed the day after the Federal Reserve announced QE3. Accordingly: seeing the Japanese Yen bottom (xxxJPY pairs top) after the BoJ would not be surprising; the conditions are ripe for a significant turnaround. The other bullish scenario for the Yen is similar to what happened in mid-September: the BoJ announces easing just beyond expectations, causing a temporary sell-off (xxxJPY pairs move to new highs), but the Yen ultimately rebounds over the coming days and weeks (xxxJPY pairs fall). This scenario unfolds if the BoJ were to announce a new easing package of ¥15 trillion instead of ¥10 trillion, for example.

The only bearish scenario for the Yen after this meeting is as follows: the BoJ and government announce agreement on a +2.0% inflation target; the BoJ increases its asset purchase program by ¥20 to ¥25 trillion; open-ended easing (akin to the Fed’s QE3 program) undertaken; and the 0.10% main interest rate is dropped to 0.00%. While the BoJ is likely to become more aggressive as the initial policy choices don’t work, these aggressive steps are unlikely to come at this meeting.

Overall, we are expecting very serious measures to be undertaken, likely bullish scenario one or two, as the bearish scenario is a far shot in the near-term. But to clarify: any bullishness in the Yen is a rally to sell over the coming weeks. Japan is mired in a generational deflation slump, one which goes back to the incredible growth bubble experienced in the 1980s. With the US debt limit negotiations about to come off the table, the Yen may only have a few days of reprieve ahead, but they could come this week, and come quite rapidly after Tuesday’s BoJ meeting.

Article provided by Dailyfx

NFP- HOW IT EFFECTS YOUR TRADING

2012-10-07T15:08:00.000+07:00

Well it is that time again and we will all be watching the charts as the NFP report comes out and if you are like me will wonder why this is so important. I often ask why this can be because it is really not a true indicator of the US economy. But non the less it has its effect. I found a good article on how this number is derived and again I ask how it has such an impact on the markets when it is but an estimate at best.

Learn how to trade Forex when there are news announcements

Each month the government releases the labor report, which encompasses nonfarm payrolls – the number of people working – and the unemployment rate - a look at those who are out of work and actively searching.
The reports are lagging indicators of economic activity, but the numbers have a major influence on monetary policy and public opinion. Hence, politicians also pay close attention.
The unemployment rate is derived from the household survey while nonfarm payrolls are calculated by a separate survey called the establishment survey.

TAKE CONTROL OF YOU FINANCIAL FUTURE LEARN HOW TO TRADE WITH THE PROS

The establishment payroll survey is based on a sample of 390,000 business establishments nationwide, providing the public with monthly estimates of employment, hours and earnings.
According to the BLS, employment is viewed as the “total number of persons on establishment payrolls employed full or part time who received pay for any part of the pay period that includes the 12th day of the month. “
Temporary employees are included, as are any workers who are on paid sick leave, paid holiday or who work during only part of the specified pay period.
Persons who have been laid off the entire pay period, on leave without pay, on strike for the entire period or who have not yet reported for work are not counted as employed. Government employment covers only civilian workers.

Benefits and drawbacks of establishment and household surveys
The household survey, which is used to calculate the unemployment rate, also provides a sample-based estimate of month-to-month changes in employment, but this section of the report generally gets little play in the national media.
The establishment survey has a smaller margin of error on month-to-month changes than the household survey because it is a much larger sample size. The BLS notes that an employment change greater than 104,000 is statistically significant in the establishment survey, while the threshold for a statistically significant change in the household survey is about 390,000.
But the household survey has a more expansive scope than the establishment survey because it includes the self-employed, unpaid family workers, private household workers, and agricultural workers who are excluded by the establishment survey.
Source: Bureau of Labor Statistics

Learn how to trade Forex when there are news announcements

SILVER- REACHING KEY DECISION LEVEL

2012-09-23T20:04:00.000+07:00

Please review our Risk Disclaimer

I have been watching Silver now for a couple of weeks as it has been approaching a MAJOR support and resistance level. It will be key here to show patience and let the market tell us where it wants to go.

We will see in the chart below how price is getting very close to the 35.50 area and the market is having trouble finding buyers. Obvious reasons are buy low and sell high. Lets get it the charts.

XAGUSD-Silver Weekly chart

Trading forex is not easy and you need an edge to beat the market learn to trade like a pro with the pros for $1 DOLLAR

From Looking at this chart we can see that price has about $1.00 more before we touch the strong Resistance level of 35.50. If we look back to the last time we where here price quickly fell almost 900 pips. This Could be a very good Sell (short) entry trade in the next week or two. Yes Week or two.

Now one thing to watch is that if you see price touch this level this week we can in fact zoom into the Daily chart to see if we can tighten in an entry giving us a better Risk-Reward trade. But, Be careful here because it is apparent that the weekly traders are controlling this instrument. Lets look at the Daily chart.

XAGUSD-Silver Daily Chart

What we see happening here over the last 6 trading days is market consolidation. This range is a sign that the Market is deciding which way they want to go. I know that some of you may be trading this intra-day. But, not for me. Also if you look at the last two days the Bears have started to take control. What I would like to see is a final push up to touch (banks Squaring their books at the Blue S/R level) then have a nice reversal candle formation at that level to trigger a sell(Short) order.

The other option for a short is for price to break out of the range of the last six days and short at that level. I would much rather see the later which is what will more then likely(predictable) happen based on the past and the banks wanting to square the books.

So still more waiting here which is probably the most important part of being a successful trader. So set yourself two alarms one at the weekly S/R level and one at the lower band of the current range. Also, Keep in mind that silver is considered a commodity and with the global economy slowing again the demand will decrease as well as the price. Unless Apple decides to start on Iphone 6 next week. LOL. Have a good trading week.

Trading forex is not easy and you need an edge to beat the market learn to trade like a pro with the pros for $1 DOLLAR

METAL HEADS-WHATS UP WITH SILVER

2012-09-16T14:21:00.000+07:00

Please review our Risk Disclaimer
I was asked to give my opinion on what Silver may be doing in the near and long term future.
Well, Let me get out the magic 8 ball and tell you if it is going up or down. Ugh! the dam thing keeps giving me a "Cannot Predict now" Serious try it yourself. Magic 8 Ball.

OK, All joking aside, Our Countries leaders never used this method to make important decisions right?? Right. So we can not either with our investments. I am a Technical traders so my decisions to buy or sell an instrument is based 99% Technical and 1% Fundamental(news).

Trading forex is not easy and you need an edge to beat the market learn to trade like the pros with the pros for $1 DOLLAR

The first most important thing you can do before deciding on any investment is to set aside the biggest killer of individual investors. EMOTIONS. It has to be all business. There can be no Panic and you must posses extreme patience and discipline. Ok lets get into Silver. I am not going to get into why or where or the history of silver etc.. We are just going to look at the charts and where the price of silver has been and where it may be headed based on primarily Support and Resistance(S/R) And what fundamentals can drive this commodity up or down. I am going to assume that this is a long term investment(1035 transfer) so we will not go any lower then the Daily charts for our analysis.
(Note: You may want to open this page twice. One screen to see the chart and one to read the analysis)
XAGUSD-Silver Monthly chart

I always look at the monthly first. It gives a very clear picture on the overall bias(direction) of the market. Then I will work my way down in time to decide if I want to trade the instrument on my preferred time frame. Since we are looking for long term here the daily will be the lowest.

What do we see. A beautiful chart- Very clear on where it has been and where it may go.

Very clear support and resistance areas at six price levels- 8.61, 19.87, 26.02, 35.46, 43.68. and 47.91 respectively.
So by looking at these levels we see two possible things will (have) happen. A bounce or a Breakout.
Currently price is moving side ways between 26.02 and 35.46.
Price is getting ready to retest the resistance level at 35.46.
35.46 has held as resistance for 4 attempts. each time resistance has driven price back down to 26.02.
If I were to trade just off this time frame-the signal here is to Wait till price tests 35.46 for a bounce(sell) or a breakout(possible buy). The key here is Wait. Unfortunately price is in the middle of nowhere. If I were to buy now I run the RISK of price only going up to 35.46 and bouncing all the way back to 26.00 exposing about a 10.00 per ounce risk.

XAGUSD-Silver Weekly chart

On this time frame we get an even clearer picture of how price has behaved around the 5 key S/R levels we saw on the monthly chart. If we look at the first yellow highlighted area of this chart we see a very well defined pattern called a Breakout Pullback Continuation- What happened is a universal S/R trading principle where, what was once resistance may now work as support. The 26.02 level was resistance and now is a very heavy (strong)Support level. We also see a very reliable candlestick pattern at the buy signal (a pin bar-Hammer formation) Price rocketed all the way to 50.00. But then the bottom fell out. So Buy Hold and pray would have taken you back to where you first bought the instrument. And.. if you had held it you would have been experiencing the roller coaster from hell for the last year. Price has just been bouncing sideways.(range bound) So What needs to happen. As a long term investment we definitely need price to do one of two things.

Retrace back to the 26.00 area for a buy entry and then hope we do not see too much longer in the roller coaster. But, If I am long term I can wait for it to reach the upper band of the range at the 35.50 area to sell it. (You will need to have a strong stomach to handle the volatility)
Wait for price to repeat the move it did when it broke 26.00 level back in January 2011. If price does break and holds above the 35.50 area we may see a repeat of the range move for the last year. between 35.50 and the 50.00 dollar range.

I believe that due to the information we were able to gather from the Monthly and Weekly charts that looking at the Daily right now is not needed. We will monitor this closely to see what opportunities present themselves over the next trading sessions with Silver. I will leave you with a very good video. Oh the fundamentals. I need to do some more info collecting before I can give you the market bias based on the sentiment. Emotions of the market. Lets roll with the Technicals for now

Trading forex is not easy and you need an edge to beat the market learn to trade like the pros with the pros for $1 DOLLAR

Be careful and enjoy the ride

KEEPING WITH THE TREND-FREE VIDEO

2012-09-02T20:44:00.000+07:00

last post I showed a video on how important it is to be able to mark our charts correctly with Support and Resistance lines. The video also showed how to place trend lines and channels in a trending pair. So after watching I hope that you went pack in your platform and double checked that your lines where in the right place.

TRADE WITH THE PROS AT FOREX MENTOR PRO FOR 1$

We also just finished with the big Jacksonhole, Wy summit where all the big banks talked about the next move for the global economy. Here are some Posts from that summit from MarketWatch

"Ben Bernanke kept the faith in the Fed’s unconventional policies on Friday in his speech at Jackson Hole, Wyo., and the faithful are being rewarded with visions of $100s and $20s and more floating down from Ben’s helicopter."

"St. Louis Fed president James Bullard says the Fed should wait for a few months before deciding whether to launch a new round of asset purchases."

"Conventional wisdom that more Fed asset purchases would be good for stocks is misguided, said Joseph LaVorgna, chief U.S. economist at Deutsche Bank

Although it has become conventional wisdom to view more QE as good for stocks, Joseph LaVorgna, chief U.S.economist at Deutsche Bank, believes the opposite is true."

“I wonder if any of these further easing actions will give equities a lift,” LaVorgna told MarketWatch on the sidelines of the Fed’s Jackson Hole summer retreat.
“In some ways, the best thing for equity investors would be a situation where the Fed said it was doing nothing and let interest rates rise. The stock market would probably go down for a day, or a week or two, but eventually would rise as fixed-income prices go up. Investors would allocate back into stocks,” he said."

As we know market opening after these kind of meetings can spark big gaps and serious wipsawing price action so as a word of caution I would hold trades until Tuesday as Monday is a Holiday in the US.

So, Now that we are starting to see new or exsisting trends continue it is again even more important to be able to regognize and plan on how and when to place your trades. I have for you another fantastic FREE video that shows trend trading in action.

Yes another great video!! Marc Walton has been Trading and Mentoring Forex for many years and has attained a reputation as one of the foremost experts in Forex Trading. This is just one of many videos Marc and his team have done. If you want to see more of Marc's Forex Teachings here is the link.

TRADE WITH THE PROS FOR 1$ AT FOREX MENTOR PRO

Again let me know if you like the post and please feel free to share it with friends and fellow traders.

Good luck with your trading.

WHEN SUMMER RANGES END-GET READY FOR THE TREND

2012-08-16T14:23:00.003+07:00

The end of summer ranges- Time for a new friend "The Trend".

The last couple of months we have seen very choppy range bound markets on many pairs. It is common that during the summer months for markets to slow and in fact move sideways.

But, now we are getting close to when the ranging markets end and new trends start to form and ATR's (average true ranges) will start to increase. It will become very important to be able to map or mark newly forming trend lines and channels to effectively trade during trending markets on our charts.

What I like to do when the markets are slow is to go back and refresh my learning on a certain trade system or even go as far as back to basics. I have had the fortune in my training of forex to be mentored by some of the best in the business as you will see in the free video below

I have found it very important to be able to read how the markets as a whole are acting. Are we range bound? Are we trending?? or are we reversing. Often times we see the market behaving in sink and we need to be able to adjust our trading for that particular market behavior, IE.. ranging, trending, etc... So what has been happening lately?? LOTS OF RANGES.
But we know from history that this time of year this is the norm. As September approaches we should (historically anyway) start to see the markets opening up, moving away from ranges and establishing new trends. We need to be ready. Below is a very good video on the basics of Trend Lines and Channels and how to put them in your charts.

I personally have watched all of this mentors videos. Hope you enjoy it and as always share it or like it.

TREND LINES AND CHANNELS

Yes great video!! Marc Walton has been Trading and Mentoring Forex for many years and has attained a reputation as one of the foremost experts in Forex Trading. This is just one of many videos Marc and his team have done. If you want to see more of Marc's Forex Teachings here is the link.

TRADE WITH THE PROS FOR 1$ AT FOREX MENTOR PRO

Again let me know if you like the post and please feel free to share it with friends and fellow traders.

Good luck with your trading.

THE LONDON OPEN- HOW TO TRADE IT

2012-08-15T16:23:00.000+07:00

Well lately the markets have been rather slow and the daily ATR (average true range has been low) But Things will get jumping again and we will see the big moves we all enjoy trading.

So while we are all waiting for the Market to wake back up from the summer months I want to show you a very powerful intraday strategy

The London Breakout
Anyone that has been trading for any length of time knows that the London session is the most active.
Trading this time frame can be the most profitable of all the forex sessions. There is a particular strategy that I like to use at the open of the London. It is the London open Breakout. This strategy works in any market condition. Ranges, Trends, Reversals. It is an Intraday Strategy and is traded using the 1hr and the 15 min charts. Below I have a special video that goes over the strategy.

Enjoy it and let me know if you liked it. I am always looking for more tools to pass on to other traders.

THE LONDON BREAKOUT STRATEGY-POWERFUL STUFF

Ok the Video is done and you want to learn more about THE LONDON BREAKOUT.
Just click the link below and take your trading to a new level. I personally use this and many other strategies in my everyday trading. They do work.

Here is the link to Learn Forex Live (Now Forex Knights)

Again let me know if you liked this and share it with a friend.

Thank you

"FAKE BREAKOUTS" or is your broker stop hunting???

2012-08-01T14:26:00.002+07:00

You have been watching a chart for some time now and price is at a key level of support and resistance. You are waiting for a breakout. Finally you see price preaching and you jump in with a trade. Only to see price quickly reverse and hit your stop. It is a very frustrating market event and can be costly to your account. What is a "Fake Breakout"??

Definition:
A situation in which a currency pair, stock or index closes above or below a range defined by a short-or long-term trend line or other support or resistance level and then retracts to within the range again. False breakouts can take place for any number of reasons, including a response to news or from professional traders who are probing areas where they believe a number of stop orders may have been placed. So there is a short and sweet definition to "Fake Breakouts".

HOW TO SPOT AND TRADE THE "FAKE BREAKOUT" FREE WEBINAR-click here

The latter part where it is a fact that large traders, (institutional traders) are not necessarily hunting for your trade stop loss but, they in fact are positioning themselves for a better price. and by doing so they are hitting your stop loss. Lets look at a chart of a "Fake Breakout".

It is clear where we had an appearance that price was going to breakout of the range to the downside only to quickly reverse and move to the upside taking out many traders that quickly dived in when they saw price preaching the lower range bands. We have all been caught by this. Why?? we were not properly trained to spot "Fake Breakouts." and how to trade them. I posted that there would be a Free Webinar on how to spot and trade this very common market event. So here is the link.
This is where I learned to Spot, and Trade the "Fake Breakout". Enjoy and let me know what you think. And of course this is free. This is some very powerful stuff.

CLICK THE LINK BELOW AND LEARN TO START TRADING THE "FAKE BREAKOUT"

HOW TO SPOT AND TRADE THE "FAKE BREAKOUT" FREE WEBINAR-click here

Free webinar provided by Hector Deville and Forex Knights