About Chartology

With "Chartology", you'll be sitting in the front row as I discuss price action analysis, market cycles, chart pattern setups, optimal trading time and volatility analysis, as well as the psychology behind price action. Put these tools together and you're looking at how to begin mastering the charts. In fact, be sure to watch the "Your Forex Questions Answered" video here.

Every day, occasionally more often, I'll additionally discuss order entry, U.S. Dollar Index, crude oil, gold, and the Dow. Forex trading allows and requires a viewpoint that goes beyond simply analyzing the pairs. I'll explain in detail how I scan for trades — I call it "triage" — how I set up trades proactively, and how I manage entries and risk. Trading isn't all that diffcult but the process of finding your tools and approach and trusting them is. So here's your front row in my trading office, thanks for reading, let's get going!

Who is Queen Cleopiptra?

Chartology Author

Raghee Horner is a private trader, founder of EZ2Trade Software, entrepreneur, and author. She has been trading forex, as well as futures and stocks for almost twenty years. She is a regular contributor at a number of sites including FXStreet, Trading Markets, Autochartist, eSignal and a featured speaker at the Forex and Traders Expos. Her commentary and analysis is seen daily by thousands of traders at her personal blog ragheehorner.com. She has written articles for Technical Analysis of Stocks and Commodities, Currency Trader, Your Trading Edge, and Traders Journal magazine.

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Aussie Squeezes Into Rising Wedge

Posted 17:05 29 September 2009 | 0

9-29-2009 5-06-02 PM.gif

The AUD/USD daily chart is squeezing within the narrows of the rising wedge. The "narrows" are basically the point within a triangle or pennant or wedge where the lines begin to decrease in range and put the squeeze on price action.

The uptrend is intact as the 34ema Wave is still heading higher at a twelve to two o'clock angle. The daily is not usually a time frame that I trade actively however this chart is very close to a decision level as prices are currently resting on the top line of the Wave (the 34ema high) and could be a swing buy. The correction would be in the 0.8580 to 0.8600 area as prices near the Wave high. The ceiling is waiting just below 0.8800 as prices have been rejected at 0.8775, 0.8790, and 0.8763.

9-29-2009 5-14-49 PM.gif

If this uptrend is to confirm a reversal -- as opposed to the continuation set up -- then prices will have to break the uptrend line which is currently traveling with the 34ema close and the lower line of the Wave, the 34ema low at 0.8462.

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Forex Blog: Chartology

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