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Currency trading chart patterns

Currency markets fluctuate daily and one of the best ways to evaluate the future direction is using technical analysis. This form of analysis uses chart patterns to analyze past price action, to formulate a view of the future direction of a currency pair. Many traders use support and resistance levels, which form the basis of chart patterns.

Support and Resistance:

Recall, support is a level where demand is evident and buyers are willing to step in and buy a security. Resistance is a level of supply where investors focus on selling or shorting an asset. Support and resistance levels are constantly changing as new information becomes available. You can use many different techniques to find support and resistance levels. One of the most common and efficient is trend line analysis. A trend line connects two or more points with a line in an effort to pin point support or resistance. Generally traders use downward sloping trend lines to designate resistance levels and upward sloping trend line to define levels of support. Although this technique is subjective, many analysts believe it is the most efficient way to generate a trend line that reflects either support or resistance levels.

Since trend lines can be subjectively drawn, it is helpful to find a technique that you can fall back on that takes the subjectivity out of this process. One of the most efficient methodology is Tom DeMarks trend line process.

TD Trend Lines:

DeMark created his TD (Tom DeMark) trend lines for the professional trader to eliminate the subjectivity from the process of drawing trend line. To do this he created the pivot top and pivot bottom. The TD pivot top is a high that is surrounded by at least one lower high on each side. For a more robust pivot top, you would look for a high surrounded by either 2 or even three lower highs on each side of the pivot top high.

Once you have found your first pivot top, you can then look back at the price history of an asset to find the next high that is surrounded by at least one lower highs on each side of it. If you are looking for pivot tops of 1-lower high than the next pivot should be the same. The pivot high you are looking for when you draw a resistance line should be higher as you move back in history.

The next step is drawing a trend line. You would connect one pivot top high to the next pivot top high and extend the line forward. The trend line has a slope and that becomes your resistance line. When an asset breaks through that resistance line, it is likely to continue to move higher. Generally the best way to trade this type of resistance trend line is to wait for a close above the slope of the trend line which will trigger a breakout.

When drawing a TD support line, you are constructing and upward sloping trend line that generates support. To do this you would connect a pivot low, which has one or more higher lows on each side of it to the next pivot low. The upward sloping trend line that is created forms support. When the price of an asset closes below the TD support line, a break down has occurred. Like the TD resistance line the TD support line can be drawn on every time horizon.

It is important to find charting patterns that you are comfortable using, as this can assist you in determining the future direction of a currency pair.

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Facts about E-Invoicing

e-invoicing infographic

Happy New Year 2015

Happy-New-Year-2015Happy and prosperous new year 2015 to all my visitors. May God bless all the happiness of the world to you.

Facts about Lexington Law

This article is a Lexington Law review, one in a series of such posts.

Litigation Law

Litigation Law

The object of the video on Lexington Law shown on Daily Motion’s website is to get customers to cancel their credit repair service. And they are sure communicating that idea in a cute way! The video shows a hypothetical customer by the name of Erin calling Lexington Law to let them know that she would like to cancel her account (shows the word “ACCOUNT” with a slash over it), then I’M SORRY TO HEAR THAT, then DON’T BE. actually… TREMENDOUS WORK (plus thumbs up symbol). Then the viewer sees a series of calendar pages advancing towards him to the left, and the scene shifts to a house and we zero in on the doorway in which we see the word WELCOME! Then comes a rapidly rising series of numbers, beginning with 464 and ending with 700, and a small human figure appears at the lower left hand corner and says, “NICE!” 4.25% 30 YEAR. Human figure appears and says, “? Lexington Law.” Then another quote: “TESTIMONIAL.” The next frame shows a single human figure connecting with three others. LEXINGTON LAW expert action, paper with the words “CREDIT REPORT” and a bar graph, then the words LEXINGTON LAW with their company logo and phone number. In a second the viewer also sees the words “Your results will vary. Clients taking advantage of Concord-level services have seen an average of 28.6 removals by month 12. Each removal from each credit report is counted separately, meaning a single questionable negative form removed from all three credit reports is counted as three removals.” The last line of the text directs the viewer to the website of Lexington Law for the experiences that other clients have had with the company. The entire video lasts for a minute and ten seconds.

What is Lexington Law? It is a company that specializes in credit repair. They work to help their clients with such things as bankruptcy, late payment, repossession, foreclosure, judgment, liens, collections and charge-offs. Obviously it is never a pleasant thing to have to hire lawyers to help deal with any of these things. Therefore, if anybody wants to cancel his or her account with a law firm like Lexington, then that is a good thing.

Why Are Payday Loans So Popular?

Payday lending has become an exploding industry over the last few years. This financial product has become extremely popular, thanks in no small part to their easy accessibility. Advance cash shops have sprang up all across the nation as payday loan lenders see the rising demand for these loans.

Payday-Loans

Payday-Loans

As banks turn more and more people down, advance cash lenders are taking up the slack. By offering no credit checks for instant cash payday loans, the advance cash lenders are able to provide loans to people with bad credit and because they focus on the present day situation of the borrower, not their past. Everyone has mistakes in the past that they regret but mistakes with a person’s credit can cost them for many years as banks, car lots, mortgage companies and other lending institutions will turn them down for money. This is where advance cash steps in and takes over by offering instant loans to people that otherwise would be unable to attain the cash from any other source. There are millions of people with bad credit and no credit so all of a sudden these 24 7 cash loans companies have found a huge customer base… all to themselves!

Another factor that has made 24/7 cash loans so popular is the ease and simplicity of the online application process. Even the application process in the loan payday loan stores is easy enough, but the online process makes it possible to apply and receive the money all from the comfort of their own homes or anywhere that you have access to a computer or laptop. At the land-based advance cash shops, the lenders may ask for a postdated check or ACH bank withdrawal authorization and the online payday loan lenders will usually ask for the ACH authorization.

Other types of loans such as a no-fax loan payday loan have made the industry rise in popularity also. Now many advance cash lenders do not require the faxing of any paperwork and usually there are no telephone calls required either. In many cases instant cash loans can be obtained without ever dealing with a live person, it can all be accomplished online as long as all the requirements are met and no additional info is required from the borrower for the advance cash loan.

Banks saw the rise in popularity of these advance cash loans and decided they wanted a piece of the loan payday loan industry. They began making loans to lenders and even joined into partnerships with some of the advance cash lenders so they could offer the loan to people in states that had prohibited these types of loans. People who want advance cash all across the nation can now obtain these loans by simply logging into a computer, clicking on a payday loan website, filling out the paperwork, meeting all the requirements and waiting for the money to be deposited into their bank account. The ease and simplicity of these advance cash loans have made the payday loan industry more popular than ever.

Some helpful links regarding Payday loans:

http://www.oft.gov.uk/news-and-updates/press/2012/11-12

http://news.bis.gov.uk/Press-Releases/Better-help-for-consumers-in-financial-difficulty-from-payday-loans-67a77.aspx

http://en.wikipedia.org/wiki/Payday_loans_in_the_United_Kingdom

Types of Loss Mitigation Programs

Due to the recent recession, the whole economy has been jeopardized and lenders are under extreme pressure by the Federal regulators, as well as their investors to turn their bad loans (non-performing assets) to good loans (performing assets).

The process of a foreclosure in the present economy is not an easy job. One hundred percent financing and a downturn in the real estate market have wreaked havoc on lenders bottom lines.

Loss mitigations programs have been established and enhanced by the federal government and the mortgage industry in order to stop home foreclosures. There is a great pressure to assist foreclosure victims. People who are in default in their mortgage payments can now find a multitude of alternatives to home foreclosure. Each homeowner has a unique situation and no two lenders have the same exact policies or procedures regarding the programs available to stop foreclosure.

  • You can save your home and credit history through a variety of loss mitigations options:

1) Repayment plan:  This is the simplest way to cure a default on your mortgage. Repayment is usually available to homeowners who can make their regular payment, along with an extra payment to catch up on their mortgage. So, if you have incurred a short term financial hardship and your loan is two or three months past due, you can consider submitting a request for a payment plan to your lender for approval. The lender will carefully review your financial situation before your request is approved. You must be able to demonstrate an ability to pay in order to be eligible.

Typically the period of a repayment plan is no more than 24 months. This term varies by lender and you should check with yours so that you can familiarize yourself with their policies.

If your rate is reasonable and you can afford to make your regular payment along with a payment that will catch you up on your back payments within your lenders timeframe, this may be the solution for you.

2) Loan modification: The number of ways to modify a loan is limited only by your creativity along with your lenders appetite for that creativity. Here are a few tips that will help you in the negotiation process for the loan modification

•    All back payments added to the principal balance of the loan
•    Re-amortization of the loan back to 30 years.
•    Interest rate reductions to as low as 3%
•    Conversions of ARM’s to fixed rate mortgage
•    Interest rate rollback to original rate (prior to ARM adjustments)
•    Interest only periods (3 – 5 years) designed to lower payments for a period of time that allows the borrowers to make it over the hump
•    Principal reductions to bring the loan to value ratio into line. This is an actual reduction of the loan balance which in turn lowers your payments.
•    Combining two loans held by the same lender in order to create one uniform interest rate and payment
•    Elimination or extreme reduction in the second mortgage balances.
•    Balloon payment at 10 or 15 years to lower today’s payments.

3)    VA loan modification / Refunding: Refunding is when the VA buys your loan from the lender. Refunding gives the VA the ability to contemplate foreclosure avoidance options to help you save your home that your current lender couldn’t or wouldn’t consider. The VA can refund a loan under 38 U.S.C.  36.4318, in this situation the arrears are added to the principal and the mortgage term are re-amortized. The new mortgage is not transferable without prior approval from the Secretary of Veteran Affairs. On occasion the interest rate is reduced and an assumption is approved. For more details, call your lender or the VA.

4)    Deed in Lieu of Foreclosure:  sometimes this is also referred to as a “cash for keys” program, because it may be possible to get your lender to give you money to help you move on with your life. If you have incurred a financial hardship and your house has been on the market for 90-120 days, you could ask your lender to consider a deed in lieu of foreclosure. As with most foreclosure avoidance options; your lender will most probably want a complete financial package. Remember, there cannot be any additional liens (other than the mortgage) against the property. If you give your property back to the bank with a deed in lieu of foreclosure, you will give up all rights to the property. In return for the deed in lieu, your lender may waive all deficiency judgment rights.

5)    Short pay-off:  This could be an option if you have suffered a financial hardship and are unable to make your loan payments. Short sale allows you to sell the property to avoid a default loss on the property. Many lenders would rather take a small loss on the property now rather than go through the timely, costly process of foreclosure. Many lenders require a qualified buyer prior to negotiating a short sale. If this is an option you wish to pursue, you must inform the lender immediately and get their list of requirements. There could be tax consequences associated with any short payoff or foreclosure. You may consult your tax advisor for more details. Your lender may want to seek a deficiency judgment for the amount of money left over after the sale. Recently some states have passed laws preventing this. If you are considering a short sale, you should seek the advice of an attorney.

6)    Special forbearance:  If you have incurred a financial hardship and your loan is three months to one year past due, you might be eligible for special forbearance. A special forbearance is designed to provide you with deeper relief than a regular FHA repayment plan provides. If you are approved for this type of relief your repayment would be spread over 12 to 18 months. Type II forbearance is usually reserved for a temporary unemployment situation when the prospect of future employment is guaranteed.

7)    Partial claim: Eligibility is available to those whose loans are 4 months to 1 year past due. A partial claim enables you to convert your arrears into a subordinate 2nd mortgage between you and the Secretary of HUD. This type of note usually defers payment on the second mortgage until after the first mortgage is paid off. These second mortgages are gives as no interest loans. The partial claim can be for no more than 1 year of past due payments. You may call your mortgage lender of the FHA for more details.