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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August 2010

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Gauging the USD/CAD Bounce on the Daily

Posted 3 years ago | 9:55 AM | 10 Aug 2010 | Comments

The daily chart of the USD/CAD is in a distribution market cycle and this sets up an distribtion fade entry long off support. While I am sharing a longer term upside target in the chart below, there wll be resistance at a minor downtrend line at 1.0400 and a ceiling at the 1.0600 major psychological level.

The Stochastic (I use a 21 setting) was ovesold as prices reached the floor an now it's heading higher towards overbought, which could indicate potential exhaustion at the near-term 1.0400 target.

08-10-2010 usdcad daily.bmp

Chart date range 25-Mar 00:00 GMT-> 09-Aug 00:00 GMT
Data Interval Daily

SummaryTarget Level 1.0675
Stop Level 1.0106

Analysis
Triangle identified at 10-Aug 00:00 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 1.0675.


Resistance Levels(B) 1.0675 Last resistance turning point of Triangle.

Support Levels(A) 1.0106 Last support turning point of Triangle.

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Archived Comments (1)

That's the real way to go from now on!

willariza | Posted 23:26 13 August 2010

Forex Blog: Chartology

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