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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EUR/USD 240 min. Swing Set Up

Posted 09:43 13 May 2009 | 0

Beginning with the overall look on my quad view offers me the analysis across my favorite tools. I can see where -- for example -- Pivot support coincides with Wave support and maybe the pressure of a candlestick sell pattern. Notice I also compare each tool on the same time frame.

5-13-2009 9-56-20 AM.gif

So right away I can see and focus in on a few main cues:
1) The Wave is 12-2 and that means I have an uptrend
2) There's a pullback that's coming back to Wave support
3) Prices are testing the daily Pivot Point
4) There is a three outside candlestick pattern sell trigger 14 candles back

I am also looking at the Fibonacci Retracement that shows that the 1.3700 level is not only a psychological ceiling but at 1.618 Fibo Extension. It will also be an upside target if the swing follows through.

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The job here is to consider where the support and resistance is on the chart. What I do with the levels is determined by the market cycle. Think about it this way. Most forex traders can identify support and resistance on a chart. It's what we individually do with those lines and levels that dictate the trade. For far too many traders, the action at support/resistance/trendlines is random or dictated by what we want to do not by what the market is telling us to do...think about it! We'll talk more of this again.

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Forex Blog: Chartology

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