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 more upside for the greenback?

Posted 12:22 12 February 2009 | Comments

I've been watching the dollar to see where signs of safe haven unwinding may occur. I am neither expecting it nor forecasting it but I do need to know where the dollar might start to correct.

Now is as good time as any as the dollar has once again rallied up through the 86.00 psychological level. Let me be clear here: The market is still defensive! Gold is rallying as evidence of that.

But north of 86.00 has not been sure-footing for the dollar in part rallies.

dx d 2-12-2009 12-38-01 PM.gif

There is support in the uptrend on the daily and as long as the Wave is up and price are supported by it, we have an uptrend. The problem with this trend is that fact that there is no steady progression of higher highs.

This movement on the dollar -- if there is a breakdown through 86.00 -- comes as the EUR/USD is trading just above 1.2800 and the USD/CHF is dealing with the 1.1700 ceiling.