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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What will happen at the intraday EUR/USD bottom?

Posted 22:07 26 May 2010 | Comments

For traders who have been watching the trio of intraday lows along 1.2141 (S1), 1.2143 (S2), and 1.2175 (S3) on the EUR/USD, the wait may be over: prices are rapidly approaching this key support level after a weak close in the U.S. equities markets (and a surge towards 87.50 on the U.S. Dollar index) accelerated prices to the downside. The EUR/USD remains under pressure, but contrarian traders are already looking ahead to a potential bounce from these lows. Any move higher from this level could hardly be considered a reversal, since in reality it would be a correction of the EUR/USD's recent move from 1.3094 to 1.2143.

However, there is a chance that a move through 1.2141 will invite bears to sell further into the negative market sentiment, which could be problematic thanks to the expected support between 1.2116 and 1.2028 (F). Selling exhaustion just below 1.2141 could allow the bulls to stage a near-term rally; such a rally would in fact present the better opportunity to short from a higher position within the overall downtrend on the daily and 240-minute charts. The prudent move is to trade short-term time frames near these key lows as the bulls and bears battle to see where the floor will hold.