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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USD/JPY 240min Swing Set Up

Posted 09:37 17 November 2009 | Comments

In my last post I mentioned that...

"I'm looking for a bounce to either the 78.6 Fibo or the bottom line of my Wave (red) to short into AS LONG AS THE WAVE MAINTAINS THE MARK DOWN ANGLE."

And that's where we find the 240min USD/JPY -- bouncing.

The 34ema low where I would trigger swing short is overlapping with the 38.2% Fibonacci retracement level and just a couple pips shy of the 89.50 major psychological level.

While we're not there quite yet, the set up is also a great example of patience in a trend offering "price improvement" and why playing breakdowns in a trend cycle comes a distant second to waiting for a correction.