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.

Latest Posts

September 2009

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Archives

AUD/USD Thoughts for Tonight...

Posted 13:53 08 September 2009 | 3

I'm not a big fan of Asian session trading BUT if you like lower volatility and that's the only time you have for trading then ... sure, have a go! The trick is to make sure you have adjusted your pip movement expectations so that they are in line with what Asian (Sydney, Tokyo, Hong Kong & Singapore) offer.

Take a look at the PowerStats graph and notice the movement per hour of day on the aussie:

9-8-2009 1-58-31 PM.gif

The hours between 7pm and 11pm EST is pretty quiet. Remember that there are some economic events tonight that may liven up the pip movement but in general this is not a very volatile time so adjust what you are expecting for follow through and remember that excpet for the data release there should be on average between 20 to almost 30 pips of movement per hour.

By the way you can check out PowerStats for free over at Autochartist.com.

9-8-2009 1-49-51 PM.gif

The Rising Wedge pattern on the 30 minute chart (above) is a great trending pattern and since the 30 minute chart is in an uptrending market cycle this is a good pattern to watch. Problem is that right now it's a terrible time to trade since it's the New York session *doldrums*. Look at the PowerStats graph: Very little follow-through.

The uptrend line (blue) of the pattern is a great corrective entry buy trigger and there is likely to be decent support for the aussie as long as prices stay above the major psychological level of 0.8600.

Comments (3)

AUD correlates with gold, and with gold going for a run, and talk of interest rates going up in Aus. before the end of the year, the bias for AUD/USD is strongly long in the medium term.
NorwegianBlue | Posted 21:09 08 September 2009
Thanks for your comment. I actually watch the aussie and the continuous commodity index as well as the aussie-gold relationship. You can see a chart at http://chart.ly/e7qy76
QueenCleopiptra | Posted 21:20 08 September 2009
Good news from the US economy will feed optimism, prompting the dollar to lose against its rivals. What do you think of a resistance for the pair at 0.8652? Take a look at this chart for this currency pair: http://files.ac-markets.com/Newsletter/2009-09-15/AlertChart15Sep09_0915.png It is from the broker ACM news section.
eraningFXTINE | Posted 15:43 15 September 2009

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Forex Blog: Chartology

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