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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Recognizing Trend Transitions

Posted 19:29 30 January 2012 | Comments

I recorded this video series in small chunks (back on January 25) so each topic could be covered in about five minutes although on the last one I lost track of time so it runs just under ten minutes.

(And this is a great follow-up to my last update here at Baby Pips, "The EUR/USD Enters a Zone of Major Resistance")

This four-part video series (links are below) is about breaking down the market trend transition we see in any market and focus on what's happening right now in the EUR/USD. The daily is losing it's downtrend and the transition will and has changed the Directional Bias of the pair.

The psychology of a downtrend lends itself to swing shorts on bounces or corrections but once the 34EMA loses its "four to six o'clock" angle the strategy is no longer applicable. This is a tough transition psychologically because the last swing is a losing trade. And the next trade is one that must take into account the new and often unsettled market trend.

Shifting gear is hard to do especially when the old gear got you as far as it did.

I see the EUR/USD in a state of transition and not to be left out...I see the U.S. Dollar Index in the same transition. While the EUR/USD is moving sideways at the BOTTOM of its range, the greenback is doing it at the TOP of its uptrend.

The 38.2% Fibonacci Retracement is currently resistance and this lines up with past levels of selling pressure as well as it being jsut six pips from the 1.3250 major psychological level. I also think the lack of buying support at 1.3200 is especially telling of where the bulls are willing to step in and support the pair - which actually ended up being close to the 1.3180 minor psychological level.

Here's what the daily EUR/USD looks like right now. Pay particular attention to the green GRaB candles and also the fact that the 34EMA Wave is NOT heading higher at "twelve to two o'clock"...

So here are the links to the videos. I think watching them in a bigger video size would be best since I get into a lot of price detail as the series progresses but there is a lot of video goodness at my You Tube channel.

PART ONE of Trend Transitions
PART TWO of Trend Transitions
PART THREE of Trend Transitions
PART FOUR of Trend Transitions

Ok, so if you like this...you're gonna LOVE my webinar tomorrow. It's a free one that I'll be doing at 8:00PM EST and you can register here.