ETMA_The Evolution

Take a look at that N., this is the Loonie and the Yen Charts, it will give us a picture of the USD Weakness something that i talked about last weekend.

US Dollar Rebounds, SPX 500 Sinks Back Below 1800
By Ilya Spivak, Currency Strategist

Talking Points:

1. US Dollar Retests Broken Range Bottom as Resistance
2. S&P 500 Recoils Downward, Loses Hold on 1800 Mark
3. Crude Oil, Gold Prices Continue to Aim Upward

US DOLLAR TECHNICAL ANALYSIS – Prices put in a bullish Piercing Line candlestick pattern, hinting a bounce may be ahead. A break above range bottom support-turned-resistance at 10612 aims for the 10669-85 area marked by the December swing 4 high and the 38.2% Fibonacci expansion. A reversal below support at 10565 (December 10 low) targets the 38.2% Fib retracement at 10549.

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S&P 500 TECHNICAL ANALYSIS – Prices fell as expected, with sellers once again testing resistance-turned-support at 1778.90 (October 30 swing high). A break lower initially exposes the 38.2% Fibonacci retracement at 1749.60. Resistance is in the 1813.10-17.80 area, marked by the November 29 high and the 23.6% Fib expansion.

http://media.dailyfx.com/illustratio..._Picture_6.png

GOLD TECHNICAL ANALYSIS – Prices advanced as expected after putting in a bullish Morning Star candlestick pattern coupled with positive RSI divergence. A break above resistance in the 1247.08-51.54 area, marked by the 23.6% Fibonacci retracement and the October 15 low, has exposed the 38.2% level at 1268.98. A further push beyond that eyes the 50% Fib at 1286.68. Alternatively, a reversal back below 1247.08 aims for the December 4 low at 1211.67.

http://media.dailyfx.com/illustratio..._Picture_7.png

CRUDE OIL TECHNICAL ANALYSIS– Prices put in a bearish Dark Cloud Cover candlestick pattern below resistance in the 98.74-99.56 area, marked by the October 28 swing high and the 38.2% Fibonacci retracement, hinting a move lower is ahead. Near-term support is at 96.57, the 23.6% Fib, with a break below that targeting 95.36. Alternatively, a push above 99.56 aims for the 50% retracement at 101.97.

http://media.dailyfx.com/illustratio..._Picture_8.png

We all crave for all kind of aspiration in our life, be it the real life or a trader's one, a code of conduct should be a part of every trader Trading plan or business plan, take a look.
It should be read everyday until its memorized and the implementation of the principles should become a habit of ours, part of our daily routine, our personality and our eternal quest to become better human being and thus traders.
Every Man Should Have a Personal Code of Conduct: Here are 2 Great Examples

Enjoy it, i know i did.

Best,
B.R.

GU and EU Breaking first level of Support, this is in line with the USD Strength yesterday and today over better than expected news events yesterday since today we have a light calendar i expect the USD strength to continue .

Speaking of the Buck a critical resistance level is in play today and PA is already broke it to the upside let's see how its gonna close.

My Favorite role Model only in trading :
9 Surprising Things Legendary Trader Jesse Livermore Said About Timing
Enjoy,
B.R.

This guy is reading me like an open Book not only in Trading but in life too.
These are the rules and principles that drive me day in, day out.

Trade Like Nial Fuller: 10 Ways to Simplify Your Trading
1) Simplify how you think about trading.
2) Start focusing on daily and 4 hour chart time frames only.
3) Stick to major currency pairs.
4) Focus on QUALITY of trade setups, not quantity.
5) Know your max dollar risk per trade, NEVER exceed it on any trade, ever.
6) Have a calm and clean trading environment.
7) Be organized.
8) Be methodic in your trading approach; have a routine.
9) Remain motivated and confident.
10) Use a simple trading strategy.

Nice one and encouraging.

T., this is the link, enjoy it.
http://www.learntotradethemarket.com...y-your-trading

Sitting in Starbucks on Sunday morning drinking my Mocha drink, beautiful sunshine outside after a heavy winter snow storm that sweeped our country last week, this is what I'm reading :

There's A Boatload Of Big Economic Events This Week — Here's Your Complete Preview
The Hidden Costs Of Working On Wall Street
The Cover Of This Week's Barron's Is Super Bullish
How To Get A Job On Wall Street When You Don't Know Anyone
Wall Street's 'Masters Of The Universe' Have Had It With Everyone In Washington
Warren Buffett Is Wishing Everyone A 'Meth-y Little Christmas'
We Love What Warren Buffett Says About Life, Luck, And Winning The 'Ovarian Lottery'
Wall Street Has Been Tweaking Its S&P 500 Target All Year And It's Still Way Off
America's Big 3 Automakers Are Getting Their Grooves Back
America's Wealth Is Staggeringly Concentrated in the Northeast Corridor


I can't not resist the urge to add this :
You Would've Made A Ton Of Money If You Had Bought What Wall Street Said To Sell
Enjoy,
B.R.

Success :

Sum Up

Eight things you can do to be like the best:

1. Stay Busy
2. Just Say No
3. Know What You Are
4. Build Networks
5. Create Good Luck
6. Have Grit
7. Make Awesome Mistakes
8. Find Mentors

What’s the easiest way to get started? Go here.

Via The Talent Code: Greatness Isn’t Born. It’s Grown. Here’s How:

It's worthwhile reading. Thanks

Monday Morning and the Markets are slowly opening around the world, this is what's expected during the week.

Economic Calendar

1. Empire Manufacturing Index (Monday): Economists expect this regional index rebounded to 5.0 in December from -2.21 in November. "This would reflect, in part, our view that manufacturing employment will pick up through the end of 2013 and into 2014 as stronger demand provides a tailwind for hiring," said Barclays' economists.
2. Markit US PMI (Wednesday): Economists estimate that the preliminary reading of PMI climbed to 55.0 in December from 54.3 last month.
3. Industrial Production (Monday): Economists estimate industrial production climbed 0.6% in November as capacity utilization increased to 78.4%. "Manufacturing employment picked up considerably in the month, and the average weekly hours of production workers also advanced," noted Wells Fargo's John Silvia. "In addition, the ISM manufacturing index continues to trend upward."
4. Consumer Price Index (Tuesday): Economists estimate CPI and CPI excluding food and energy prices climbed by just 0.1%. "Gasoline should depress headline, as the 10 cent decline in nationwide gas prices was slightly more than seasonal norms," said Credit Suisse's economics team. "Persistent weakness in goods prices (four straight months without an increase) should restrain core."
5. NAHB Housing Market Index (Tuesday): Economists estimate the homebuilder confidence index climbed to 55 in December from 54 last month. "The NAHB housing index has remained above 50, suggesting builders remain optimistic despite the rise in mortgage rates," said Bank of America Merrill Lynch economists. "This is a good sign for the prospects of housing construction in the coming year."
6. Housing Starts (Wednesday): Due to the government shutdown, the Census will be releasing three months worth of data. Economists estimate an annualized pace of 950,000 starts in November. "Relatively weak home sales likely have tempered the momentum of new construction," said Wells Fargo's John Silvia.
7. FOMC Rate Decision (Wednesday): Economists expect the Fed to keep rates and its large-scale asset purchase program unchanged.
8. Initial Jobless Claims (Thursday): Economists estimate claims fell to 332,000 from 368,000 last week. "Watch for another substantial move in jobless claims on Thursday as the series continues to be buffeted by holiday/technical issues," said Deutsche Bank's Joe LaVorgna.
9. Philadelphia Fed Business Index (Thursday): Economists estimate the Philly Fed index climbed to 10.0 in December from 6.5 a month ago. Here's Citi's Peter D'Antonio: "The Philly Fed index has been completely out of step with real activity nationwide in recent months. Index readings in the 20 range, like we’ve seen in the past six months, are rare and generally associated with booming or newly recovering economies. Neither would describe recent activity though. Until a tighter correlation with real activity can be established, we are not inclined to focus on this report."
10. Existing Home Sales (Thursday): Economists estimate that sales fell 2.0% to an annualized rate of 5.02 million. "Pending home sales have fallen sharply while mortgage purchase applications have remained weak," noted Bank of America Merrill Lynch. "Since there is a lag between signed and closed contracts, the weakness in existing home sales in the fall reflects the rise in mortgage rates during the summer. We think this is transitory and look for existing home sales to recover early next year."
11. Q3 GDP (Friday): Economists estimate GDP jumped 3.6% in Q3. "Monthly data since the second estimate suggest only small, and offsetting, revisions to the main components," noted Barclays' economists. "As such, Q3 is likely to continue to be characterized by soft growth in domestic final demand but a very sharp increase in inventory accumulation."

As usual, Things That Make You Go Hmmm...

"A man without debts is a man without anything to live for. Debt is collateral for life. It provides you with obligations to others, gives you duty, gives you purpose: the purpose to protect those possessions which you would not otherwise have without your debt. Debt is the most responsible way to elevate your social position."
— Bauvard, The Prince of Plungers

Exactly my opinion on Debt.

In Harmony with my Personal Moto ( I Will not rest, until i am ), these quotes will give you inspiration if you ingrain it in your Brain, Routine, habits, both in trading and life.

My Favorite Quotes On Impossible

“There is nothing impossible to him who will try.” – Alexander the Great
“Without faith nothing is possible. With it, nothing is impossible.” – Mary McLeod Bethune
“Impossible is just a big word thrown around by small men who find it easier to live the world they’ve been given than to explore the power they have to change it. Impossible is not a fact. It’s an opinion. Impossible is not a declaration. It’s a dare. Impossible is potential. Impossible is temporary. Impossible is nothing.” – Muhammad Ali
“We are all faced with a series of great opportunities brilliantly disguised as impossible situations.” – Charles R. Swindoll
“The only place where your dream becomes impossible is in your own thinking.” – Robert Schuller
“We would accomplish many more things if we did not think of them as impossible.” – Vince Lombardi
“Because a thing seems difficult for you, do not think it impossible for anyone to accomplish.” – Marcus Aurelius
“Most of the things worth doing in the world had been declared impossible before they were done.” – Louis D. Brandeis
“Impossible only means that you haven’t found the solution yet.” – Anonymous
“To the timid and hesitating everything is impossible because it seems so.” – Sir Walter Scott
“The difference between impossible and the possible lies in a man’s determination.” – Tommy Lasorda
“I only want people around me who can do the impossible.” – Elizabeth Arden
“I wouldn’t say anything is impossible. I think that everything is possible as long as you put your mind to it and put the work and time into it.” – Michael Phelps
“Nothing is impossible – some things are just less likely than others.” – Jonathan Winters
“By striving to do the impossible man has always achieved what is possible. Those who have cautiously done no more than they believed possible have never taken a single step forward.” – Mikhail Bakunin
“I tell you the truth, if you have faith as small as a mustard seed, you can say to this mountain, “move from here to there” and it will move. Nothing will be impossible to you.” – Jesus Christ
“There is only one thing that makes a dream impossible to achieve: the fear of failure.” – Paulo Coelho
“No one gets very far unless he accomplishes the impossible at least once a day.” – Elbert Hubbard
“Some of the world’s greatest feats were accomplished by people not smart enough to know they were impossible.” – Doug Larson
“To believe a thing impossible is to make it so.” – French Proverb
“I have learned to use the word impossible with the greatest caution.” – Wernher von Braun
“Believe and act as if it were impossible to fail.” – Charles Kettering
“What we can or cannot do, what we consider possible or impossible is rarely a function of our true capability. It is more likely a function of our beliefs about who we are.” – Anthony Robbins
“It is impossible to win the race unless you venture to run, impossible to win the victory unless you dare to battle.” – Richard M. DeVos
“So many of our dreams at first seem impossible then they seem improbable and then, when we summon the will, they soon become inevitable.” – Christopher Reeve
“It’s kind of fun to do the impossible.” – Walt Disney
“The word impossible is not in my dictionary.” – Napoleon Bonaparte

- See more at: http://www.kirkreport.com/2012/08/17....vTaMZMfV.dpuf

My Father used to tell me, Son u have to actually buy a lotto grid if you want to win the Lottery, praying and hoping won't win u the prize.

Best,
B.R.

We are coming to an important crossroads in the Yen, PA are testing the Long term UTL and getting squeezed between the UTL and DTL, something got to give be it up or down, I'm watching carefully.
Germany’s ZEW Investor Confidence Surges to Seven-Year High and still the EU Breaking down, so does the GU, lets see if it gonna follow through.
The Swissy maybe Carving a double bottom after breaking a very important support and retracing back.

Here we go again, another FOMC another crystal ball predictions, it becomes much more difficult to trade these days on shorter time-frames amid all these Tapering bets, the FOMC Meetings become more and more significant to the overall markets volatility :

10 Things You Need To Know Before The Opening Bell
Sorry, But No One Really Knows What The Fed Will Say About Tapering Today
Here's Three Other Things That Are Happening Today Besides The Fed
This Is A Good Guess Of What The Fed Will Do Today
Markets Are Higher Everywhere On Huge Day For The Fed
Congress Is About To Do The Unthinkable — Agree On A Budget

Its all about the FED Today, be careful out there its gonna be pretty volatile.
By the way I'm started to scale out of my trades @ the end of the year and start doing some auditing of my performance the past year.

Best,
B.R.

The Tapering Statement :

For immediate release
Information received since the Federal Open Market Committee met in October indicates that economic activity is expanding at a moderate pace. Labor market conditions have shown further improvement; the unemployment rate has declined but remains elevated. Household spending and business fixed investment advanced, while the recovery in the housing sector slowed somewhat in recent months. Fiscal policy is restraining economic growth, although the extent of restraint may be diminishing. Inflation has been running below the Committee's longer-run objective, but longer-term inflation expectations have remained stable.
Consistent with its statutory mandate, the Committee seeks to foster maximum employment and price stability. The Committee expects that, with appropriate policy accommodation, economic growth will pick up from its recent pace and the unemployment rate will gradually decline toward levels the Committee judges consistent with its dual mandate. The Committee sees the risks to the outlook for the economy and the labor market as having become more nearly balanced. The Committee recognizes that inflation persistently below its 2 percent objective could pose risks to economic performance, and it is monitoring inflation developments carefully for evidence that inflation will move back toward its objective over the medium term.
Taking into account the extent of federal fiscal retrenchment since the inception of its current asset purchase program, the Committee sees the improvement in economic activity and labor market conditions over that period as consistent with growing underlying strength in the broader economy. In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions, the Committee decided to modestly reduce the pace of its asset purchases. Beginning in January, the Committee will add to its holdings of agency mortgage-backed securities at a pace of $35 billion per month rather than $40 billion per month, and will add to its holdings of longer-term Treasury securities at a pace of $40 billion per month rather than $45 billion per month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. The Committee's sizable and still-increasing holdings of longer-term securities should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative, which in turn should promote a stronger economic recovery and help to ensure that inflation, over time, is at the rate most consistent with the Committee's dual mandate.
The Committee will closely monitor incoming information on economic and financial developments in coming months and will continue its purchases of Treasury and agency mortgage-backed securities, and employ its other policy tools as appropriate, until the outlook for the labor market has improved substantially in a context of price stability. If incoming information broadly supports the Committee's expectation of ongoing improvement in labor market conditions and inflation moving back toward its longer-run objective, the Committee will likely reduce the pace of asset purchases in further measured steps at future meetings. However, asset purchases are not on a preset course, and the Committee's decisions about their pace will remain contingent on the Committee's outlook for the labor market and inflation as well as its assessment of the likely efficacy and costs of such purchases.
To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that a highly accommodative stance of monetary policy will remain appropriate for a considerable time after the asset purchase program ends and the economic recovery strengthens. The Committee also reaffirmed its expectation that the current exceptionally low target range for the federal funds rate of 0 to 1/4 percent will be appropriate at least as long as the unemployment rate remains above 6-1/2 percent, inflation between one and two years ahead is projected to be no more than a half percentage point above the Committee's 2 percent longer-run goal, and longer-term inflation expectations continue to be well anchored. In determining how long to maintain a highly accommodative stance of monetary policy, the Committee will also consider other information, including additional measures of labor market conditions, indicators of inflation pressures and inflation expectations, and readings on financial developments. The Committee now anticipates, based on its assessment of these factors, that it likely will be appropriate to maintain the current target range for the federal funds rate well past the time that the unemployment rate declines below 6-1/2 percent, especially if projected inflation continues to run below the Committee's 2 percent longer-run goal. When the Committee decides to begin to remove policy accommodation, it will take a balanced approach consistent with its longer-run goals of maximum employment and inflation of 2 percent.
Voting for the FOMC monetary policy action were: Ben S. Bernanke, Chairman; William C. Dudley, Vice Chairman; James Bullard; Charles L. Evans; Esther L. George; Jerome H. Powell; Jeremy C. Stein; Daniel K. Tarullo; and Janet L. Yellen. Voting against the action was Eric S. Rosengren, who believes that, with the unemployment rate still elevated and the inflation rate well below the federal funds rate target, changes in the purchase program are premature until incoming data more clearly indicate that economic growth is likely to be sustained above its potential rate.

Hope that this soon than expected taper didn't caused u pain, mine was mild.

Best,
B.R.

I doubt if there is a more clear signals than these :
Piercing line.
Engulfing Pattern.
Bearish Pinbar with a strong wick that's pertruding a main Important Resistance level, Rejected from it and closed under it.
And we should not forget the Potential in process double top.

These are a clear bearish signs.

Best,
B.R.

Hi Bassramy

I just came across this thread, had been following extreme TMA system for some time now. Found this one to be very informative and educative as well. Thanks for starting the thread which can go a long way in helping both pros and the less experienced traders. Look forward to learning from your experience through this thread.

Regards

Aziz

You are welcome Buddy.