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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February 2009

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A follow-up on the USD/JPY

Posted 13:21 05 February 2009 | 0

Take a look at my last post and you'll see the USD/JPY in a congestion pattern, a triangle, as the Dow headed lower. But alas the Dow was looking for a reason to rip.

2-5-2009 1-41-55 PM.gif

The yen is taking a turn though, and not just a short term, intraday move.

The chart pattern on the 240 was a classic momentum set up, the bias to a downside break was based upon the Dow continuing to weaken. Today's the Dow is up, not a lot, but the sentiment is shifting for a number of reasons. Bottom line though is that the pattern could have broken either way, and up it goes. In fact today's price action puts the USD/JPY on the strong side of the Wave for the first time since early January.

2-5-2009 1-43-10 PM.gif

For confirmation on the 240, here's what to keep an eye on. The MACD Histogram went position at 4pm EST yesterday (Wednesday) and that would be the tool to confirm for a break out. You still have to wait for price to trigger the entry, but once the MACD-H goes positive in a sideways market, the trade is a pre-confirmed buy.

You can download my MT4 "GRaB" plug-in for the Wave and candle coloring here.

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Forex Blog: Chartology

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