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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September 2009

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USD/CAD Breakout Reaches Psychological Level Ceiling

Posted 19:51 24 September 2009 | 0

9-24-2009 7-47-15 PM.gif

The USD/CAD rallied to 1.0900 as prices broke out of a symmetrical triangle pattern. The reason this move now has my attention is from a trade management perspective. The psychological level of 1.0900 is a potential ceiling and even though prices rallied though it the previous high was 1.0924. It's more a matter of whether USD/CAD buyers will support this level.

9-24-2009 7-48-57 PM.gif

The current market cycle is in distribution and this would put further follow-through in question. Watch the crude oil market for a rebound after what could be an over-reaction in the U.S. Dollar and the subsequent push lower in commodities.

So what's the next set of support and resistance levels for this USD/CAD move? Take a look at the Expected Price Range graph below:

9-24-2009 7-59-21 PM.gif

Have a great weekend!

Keep in touch with me throughout the trading day through Twitter!

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Forex Blog: Chartology

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