Actively Applying Trend Lines to 4 Forex Charts

During the recent weeks Winners Edge Trading has released an entire series on trend lines and how Forex traders can use trend lines for their trading decisions. This article will use these trend line articles to review and analyze today’s Forex market and make a watch list of interesting pairs and setups.

#1 GBPAUD

The GBPAUD is in a chart pattern called the contracting triangle or wedge. Price is posting higher lows but also lower highs, which is a classical sign of a range. So which trend lines are important?

The red and dark green trend lines are the main ones to monitor: a breakout above resistance or below support is the main breakout scenario although waiting for the confirmation of a break is also merited. The other trend lines are good to keep on the charts to remember where the targets are located.

#2 USDCAD

The USDCAD is also caught in a tight consolidation zone. The green trend lines represent the falling wedge chart pattern which is often a reversal signal. The longer term trend is certainly still pointed up (green arrow) so a break of the falling wedge could indicate the continuation of the bullish momentum.

1. Bullish space is visible above the rising wedge and resistance (green zones);


2. Bearish space is visible up on the break of support (blue & green) trend lines (red zones);


3. Price is now in ‘neutral’ territory (blue zones).

#3 EURUSD

The EURUSD downtrend gave way for a massive bear flag consolidation (blue channel lines). Price is clearly at a decision spot:

1. The break of support for a bearish setup or;


2. The bounce at support for a bullish rally and further extension of the consolidation.

The screenshot shows you where I mentally have placed the bullish, bearish, and neutral zones (circles) and likely bouncing spots (arrows) depending on the trend lines:

#4 GBPJPY

The GBPJPY is rebounding back up strongly after an even sharper decline. The ‘Ferrari’ of the currency market has stalled at the -27.2 target after bouncing at the 38.2 Fibonacci retracement level. If price is able to make it up towards the -61.8 target then it would need to break through various layers of resistance. Bearish territory is only visible after a break of various support lines and channels. Please see this screenshot for the full visual picture.

Remember that these 4 currency pairs have interesting trend lines but before they can be actually traded it is always recommended to wait patiently for confirmation of one’s analysis as to remove the bias from our views on the charts and potential setups.

As our help to traders, we are offering you the opportunity to post your charts and got review for free of charge: pick a chart and draw all of the relevant trend lines on it. If possible, indicate or write which zones are bearish, bullish or neutral. Then after that we will post our feedback on it. Looking forward to your charts!

Thanks for sharing and wish you Happy Trading!

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Watch Out For These FAFSA Fails

Applying for financial aid is an annual rite for college students and their parents. It’s tedious and the process is often compared to any number of dental procedures. As painful as filling out the forms â�� electronically or otherwise â�� may be, the discomfort can be exacerbated quite a bit when mistakes slow down the whole process. If you need financial aid to attend college, you will more than likely have to fill out the Free Application for Federal Student Aidâ��the FAFSA. Practically all public colleges and universities, and many private schools, use it to determine aid eligibility. Like many federal forms, though, filling out the FAFSA is not exactly fun. In fact, it can be downright tedious. The form’s complexity and a lack of…

via Affordable Schools Online:

Applying for financial aid is an annual rite for college students and their parents. It’s tedious and the process is often compared to any number of dental procedures. As painful as filling out the forms — electronically or otherwise — may be, the discomfort can be exacerbated quite a bit when mistakes slow down the whole process.

If you need financial aid to attend college, you will more than likely have to fill out the Free Application for Federal Student Aid—the FAFSA. Practically all public colleges and universities, and many private schools, use it to determine aid eligibility. Like many federal forms, though, filling out the FAFSA is not exactly fun. In fact, it can be downright tedious.

The form’s complexity and a lack of user-friendliness combine to create a process that can be fraught with errors. Errors on the FAFSA can delay your school in determining your financial aid, and that is bad. The good news is that the most common errors can be avoided. This list from Top5.com identifies several errors that are easy to make — and easy to avoid — when it comes to filling out the FAFSA.

Filing Late

We’ve banged this drum before on AffordableSchoolsOnline.com, but it is worth repeating: Submit your FAFSA as soon as you can after January 1. For the FAFSA, the federal government has no filing deadline, but most schools do have financial aid deadlines. Colleges tend to distribute their available aid on a first-come, first-served basis. This means that if you wait to submit your FAFSA, less aid may be available for you, even if you’re otherwise eligible.

Divorced Parents

If your parents are separated or divorced, the FAFSA will look only at the income and assets of the parent with whom you lived the most in the 12 months prior to your application, not the parent who has custody of you. This results in a lot of confusion, and presumably reduced aid eligibility in some cases. Reporting the income of both parents or the parent who has custody on the date of the application can lead to erroneous calculations under the federal methodology.

Blank Answers

The FAFSA does not tolerate blanks very well. When you do not answer a question, what happens is that the algorithm used by the Department of Education’s computers assumes you forgot to give an answer. Rather than assuming a zero, system will report an incomplete application. Incomplete FAFSAs delay your results and require you to resubmit the form. If you come across a question that doesn’t apply to you or should be zero—especially in the income section of the FAFSA, which requires an answer to every question—enter “0″ as the answer.

Filing Your Taxes First

The FAFSA asks for a lot of financial information, including income and other details that you provide on your tax forms. One major mistake that students and their parents make is waiting until they have finished preparing their tax returns before submitting a FAFSA. Doing so can delay your aid determination, during which time the supply of aid funds will get smaller. A better strategy, especially if you experienced no major changes in your financial situation, is to use the previous year’s information, along with W-2s, 1099s and pay stubs to estimate income. Submit your FAFSA with the estimates, then, once you file your tax return, go back and amend the submission.

Dependency Status

No matter how you feel about your circumstances or your parents, if you are an undergraduate student who is 24 or younger, you are most likely dependent for financial aid purposes. Confusion surrounding this status can result in contradictory answers on the FAFSA and, ultimately, a delay and a need to resubmit the application. When a college looks at your FAFSA, only a few select criteria will make you independent under the federal methodology. These are: being 24 or older; having children of your own; active-duty military service; or having your own dependents who live with you. The decision of whether you have independent status is typically made by the college to which you’re applying.

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Watch Out For These FAFSA Fails

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