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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Dissecting the USD/JPY Daily Swing Set Up

Posted 13:01 11 January 2010 | Comments

I've been watching the daily chart of the USD/JPY for a correction ever since it's visit up to the 200SMA...

That 200sma is resistance and since prices could not establish support above it, it's still a ceiling. So that brings me back to the swing. Since I'm waiting for a correction, the rejection at the 200sma is exactly what I need to send prices lower, preferably to the 34ema high waiting below at 91.34.

The daily is the longest time frame I will trade and I know it's fate (and set ups) are reliant on the intraday charts.

The 15, 30, and 60 minute charts will have to transition to a mark down cycle to get the swing correction I'm waiting for. And remember, there's no reason to think that 1) prices will get there on the daily and 2) that the 15, 30, and 60 minute downtrends couldn't be traded along the way.

All three -- the 15/30/60 minute -- time frames are in a mark down and setting up swing shorts along their respective 34ema lows.

Even the 240 minute chart is in transition as prices are testing the 92.00 major psychological level and breaking through the support of the rising wedge pattern.