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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February 2009

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How much higher will the fiber go?

Posted 13:28 06 February 2009 | Comments

The U.S. Dollar Index is selling off today as the EUR/USD is rallying in what is still a downtrend. The dollar is trading at 85.25 this afternoon as London has called it a day and is likely enjoying a pint after a long week. So what does this move higher mean?

2-6-2009 1-54-27 PM.gif

As the fiber rockets up to the bottom line of the Wave, there is a thick level of resistance between 1.3000 and 1.3070. So the real question is not whether the EUR/USD will go higher. Is has and it will. The REAL question is to where and will the downtrend be broken. Otherwise this move simply a bounce within a downtrend and that's a correction, not a reversal.