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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Key Levels on Market Pulse Charts

Posted 10 months ago | 10:36 PM | 11 Jul 2012 | Comments

There's three charts I want to share with you all tonight and none of them are forex charts - hold on! - there's a good reason why.

Each day i begin by determining the risk environment and to do this I use primarily the U.S. Dollar Index, the Dow, and crude oil. Today there are a number of levels that are in play and my focus is on the ceiling on the U.S. Dollar Index, the 200DMA on the Dow futures, and the 50DMA support waiting just below current levels on the S&P.

Despite putting in a new high, the dollar sunk back below the 83.67 previous high. The exhaustion reflects just how much the sentiment was bullish into the close after the 2:00 Fed Minutes release where equities sold off sharply.

The S&P does have support waiting below in the form of the (dynamic) support of the 50DMA is prices take another stab at moving lower.

The Dow bounced from the 200DMA which was where the Fed Minutes release pushed prices lower to before rally, the "unworried" rally took the market higher into the close. Down 48 points was a significant afternoon recovery.

All in all, the levels that these three charts are sitting at actually indicate that risk appetite in U.S. equities could persist WHILE the dollar pushes against the 83.67 to 83.76 layer of resistance. Because of that I will continue to look for risk ON entries longer term (like aussie bullish positions) and limit risk OFF positions to shorter-term. I will also keep an eye out for continued dollar strength since there is still a flight to safety play (based on concerns in Europe) but the equities market - heading into earning seasons has been trading north of the 200DMA and holding mainly a neutral to bullish trend.