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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If the cable sells off again, here's the timeframe to watch...

Posted 17:28 29 January 2009 | Comments

The cable has reached the 34EMA low which is the bottom line of the Wave on the daily chart. When the market cycle is down this is typically a great point at which to initiate a short position. Normally that's the plan BUT...

The cable can be a bit of a drama queen can't it?

Look closer at the daily chart and it's apparent that prices can and have climbed up into and through the resistance of the Wave before selling off.

So rather than play a swing short off a bounce (sell strength in an overall downtrend) it may be wiser here to short a breakdown: Enter the four hour chart!

The play would still be a short but the rising wedge pattern on the 240 will set up a reversal short -- as opposed to a swing short on the daily (below) -- and take advantage of momentum to the downside.

1-29-2009 6-08-41 PM.gif