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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Charting the Entry on the Five Minute on Today's GBP/USD pt. 3

Posted 18:09 11 November 2009 | 1

I had posted this set up at my personal blog over at RagheeHorner.com and I wanted to walk you all through the set up and the details of the trade.

We begin with a mark down or downtrending cycle as the Wave shows that the angle is a 4 to 6 o'clock.

11-11-2009 6-28-13 PM.gif

The entry sets up at or "between the greens".

11-11-2009 6-28-21 PM.gif

This area shows the entry at the lower line of the entry area, the light green line is the 13ema on the close. The dark green is the 21 ema on the close.

11-11-2009 6-29-22 PM.gif

The "warning track" is the 34ema on the high (light red) and the dark red is the 55ema on the close. Once prices break the dark red plus three to five pips, you're out.

11-11-2009 6-29-45 PM.gif

11-11-2009 6-37-30 PM.gif

I'll talk about profit target in the next update but suffice to say that psych levels, Fibo Retracements or Extension, even pivots would work. You're simply looking for support levels that could lead to a significant bounce and step out in front of those.

By the way, you can read part one and part two if you would like to review what I've covered so far...

Comments (1)

Nice example, GREAT set up, Raghee! I will keep on track. Thank you.
Waineco | Posted 07:30 19 November 2009

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Forex Blog: Chartology

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