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

April 2010

S M T W T F S
1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30

Archives

EUR/USD 30 and 60-minute Swing Set ups

Posted 10:04 16 April 2010 | Comments

There are more reasons I have to want to take the 60-minute swing that I have been waiting for this morning, but the main reason I may not get it is PROXIMITY. Prices are simply just too far away right now from the 34 period EMA low at 1.3545 for me to get this trade. Now 30 pips may not be much - that's the current number of pips the EUR/USD would have to climb to hit my short trigger - but it's a possibility that I won't see that move BEFORE NOON EST. Noon EST is my cut-off for entries because at that point London has "closed" or is "closing" and a big chunk of trading volume and opinion goes with it.

So the alternative is the 30-minute chart with it's 34 period EMA low at 1.3531 (1) and the resistance of the Descending Triangle downtrend line (2).

4-16-2010 10-03-02 AM.gif

MT4 chart with Autochartist plug-in and the 34EMA Wave indicator

The bounce in the EUR/USD is coming as the Sunday gap closed at 1.3598. The current low is 1.3488. If prices can establish support above the 1.3500 major psychological level, then there is a good chance there could be enough momentum to correct the current downtrend.

  • Currently 4.7/5
  • 1
  • 2
  • 3
  • 4
  • 5
Rating: 4.7/5 (11 votes cast)

blog comments powered by Disqus

Archived Comments (2)

Good information. Signed up just to comment on this. It'll be interesting to see what happens this week.

Regards,
Chris

christhesquid | Posted 11:05 18 April 2010

I have just opened a live account with $1000 ,how much of the account should I trade at a time.?2.5%,5% or ?please help.Howlong should it take me to become $100 000naire?

rahlabi | Posted 12:40 21 April 2010

Forex Blog: Chartology

"It's choice - not chance - that determines your destiny."
Jean Nidetch
Clicky Web Analytics