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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Playing the Potential USD/JPY Exhaustion

Posted 21:07 02 July 2010 | Comments

The 30-minute USD/JPY has sold-off and transitioned into a distribution cycle which from my experience can be an *account killer* unless you make the proper adjustments to price movement expectation. Usually in distribution, prices will exhaust at near-term highs and lows. On the 30-minute USD/JPY that means the 88.50 resistance and 86.95 support.

Summary
Target Level 88.5
Target Period 1 hour
Stop Level 86.95

Analysis
Channel Down identified at 01-Jul 21:00 GMT. This pattern is still in the process of forming. Possible bullish price movement towards the resistance 88.5 within the next 1 hour.

Supporting Indicators
Upward sloping Moving Average

Resistance Levels
(G) 89.41 Last resistance turning point of Channel Down.
(F) 88.55 Last resistance turning point of Channel Down.
(B) 88.5 Last resistance turning point of Channel Down.

Support Levels
(A) 86.95 Last support turning point of Channel Down.