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Live Trading – Volatility Presents Big Opportunity in Yen and Euro

We looked at the B Pound recently and gave you areas to sell if you did you made a huge profit with low risk and we have done separate report on the BP – here we want to look at the Yen and Euro and low risk /high reward trading scenario.

Lets look at these currencies and what the week ahead holds.

Japanese Yen

The trend against the dollar is down and has been for years – the recent rally is simply un-winding of carry trades.

This means the JY should resume its down trend and the recent volatility is presenting a low risk high reward opportunity. Take a look at a good free chart service such as futuresource.com and you will see for yourself.

Prices have spiked and are outside the top Bollinger band and resistance lies at 0.85.50 and 86.00. The key to looking at the short side is a change in price momentum.

Pull up the Relative Strength Index which has peaked at just above 70.00 and is losing momentum and also check the Stochastic which is set to cross with bearish divergence.

Look for a reversal day and momentum to turn bearish target on both indicators – target is the mid Bollinger band.

Euro

The euro is in a long term uptrend against the dollar and the recent correction (like the one we looked at in the British Pound) is simply the huge speculative long position being washed out and this looks to be almost done.

The key near term support is 1.36 (bottom of Bollinger band and July Lows)

Again you need to look at the RSI and stochastic and watch for a change in price momentum.

At present there is NO signal to buy RSI continues to fall and the stochastics are deeply oversold.

In Both Currencies

Do not try and predict WAIT for the confirmation on the charts backed up by price momentum.

Trade the reality of price – NOT your opinion (or the opinions of others) stay focused on the charts and stay disciplined.

There are of course conflicting news stories about what happens next – by focusing on the charts and trading the reality of a shift in price momentum, you will be trading the odds and that’s what any currency trader needs to do.

The long term trend is down in the Yen and up in the euro and while we could see a major trend change, this looks like a correction in both currencies and the longer term trends up in Euro and down in Yen will re assert themselves.

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Improve Your Personal Presentation in Five Easy Steps

1. Get your hair cut – regardless of how well you are dressed, unkempt and out of control hair will make you look untidy. 30 minutes and £10 well spent! Make sure you have any facial hair under control too.

2. Wear a suit – so many people these days go suit-less, and this gives you a great opportunity to stand out and look professional and more presentable. However just any old suit will not do. It must be 100% wool (please, no polyester) and preferably in dark navy or charcoal grey. You may even have something suitable in the wardrobe already; however if you bought it ready to wear IT DOES NOT FIT YOU!. A poor fitting suit is worse than no suit. Go to a good alterations tailor and get it fitted; It is not expensive! By the way, you really do need two suits so you can alternate each day. If you are really skint look on eBay or in a nearly new shop.

3. Wear a proper shirt, and one that fits – so many people wear casual shirts to work and usually with the wrong length arms and neck. Go to a store that sell shirts in various arm lengths and reasonably constructed to look good with a suit. If you are on a budget T.M. Lewin often do 4 shirts for £100 which are more than adequate, and will be enough to get you going – I suggest two each of white and light blue plain as a minimum.

4. Wear a tie – why, oh why do so few people wear a tie? A man is not completely dressed without one; a suit is not casual so why dress casually underneath it? The silk of he tie (and do ensure it is silk) offers a contrasting texture to the matt of the suit and shirt and is a great opportunity to express your personality through colour.

5. Shoes – So many people wear a suit and then finish it off with totally inappropriate shoes. Wear some black traditional, welted shoes in an oxford style. These will last a lifetime if looked after so don’t skimp.

These five simple steps can make you look more professional and presentable.

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Focus on the Present – How to Get and Stay Mentally Focused on Now

How can you stay in the present (mentally) – or get to the present? Here are 5 strategies:

  1. Breathe. The idea is that you breathe in. Then you breathe out. This helps you to get centered – and somewhere I read that the space between breathing in and breathing out – that’s the present. So actually, right now, breathe. In. Out. In. Out. It’s amazing that we need to be reminded.
  2. Stand up straight or sit up straight (if you are physically able to do so). Just pull your head up, straighten your spine, pull in your stomach, and of course, breathe. It’s interesting how making sure we are doing all of these behaviors just pulls us to the present. Apparently there is no chance of multi-minding when we are focused – just for a moment – on standing up straight, pulling our head up and our stomachs in – and, oh, yeah…breathing. Those four tasks take all our concentration and are sometimes enough to break us out of whatever past tense, future tense, or too tense thinking we were in just before.
  3. Say, “One thing, right now.” It’s a calming phrase. It helps you to get centered again. “One thing, right now.” “One thing, right now.” “One thing, right now.” Say it over and over as needed. Let people around you know that if/when you get into a “state,” they might help you by saying, “One thing, right now.”
  4. If you have an object that helps you focus on the present – then use that. It might be something physical, it might be a picture, it might be a quote. It’s whatever will calm your mind enough to focus on now – just now.
  5. Make marmalade. This recommendation comes from D.H. Lawrence’s suggestion: “I got the blues thinking of the future, so I left off and made some marmalade. It’s amazing how it cheers one up to shred oranges and scrub the floor.” The idea, of course, is to take up an activity where you need to be focused. Making marmalade, doing repair, engaging in some kind of intricate work….all of these activities require your focus and that you be present. Figure out what your marmalade activity is.

I promised that these were simple – and they are. Yet, we often don’t apply simple solutions. Give one or more of these a try when you need to bring yourself back to NOW – and see if you aren’t more focused and much more peaceful, too.

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