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?

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 Awaits Trade Balance Figures After Steep Rally

Posted 16:58 01 September 2010 | Comments

The AUD/USD rallied from 0.8911 to the current levels at 0.9107 through Wednesday. This steep ascent was caused by the Australian Dollar's strength over a very weak U.S. Dollar as U.S. equities rallied strongly throughout the trading day.

Pattern Alert Courtesy of Autochartist

The Triangle breakout from 0.9020 pushed the AUD/USD higher towards previous resistance at 0.9080 - which was quickly broken as the bulls continued to rally the pair through the "big figure" at 0.9100 where prices have now stalled. The 240-minute time frame currently has on overbought Stochastic (21 period) reading that could be signaling a sentiment shift as it appears the bulls have little momentum left. Price action could also be stalling in anticipation of the Trade Balance figures due out at 9:30pm EST.

The initial pattern break yielded an 80 pip follow-through and could now be exhausting at these levels. To confirm a reversal, prices will have to break back below 0.9100 and continue lower through the past resistance at 0.9080 which will now be support.

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