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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Waiting on a U.S. Dollar Pullback?

Posted 07:16 18 May 2010 | Comments

The US Dollar Basket continued higher today as the EUR/USD made yet another new low. The US Dollar continues to trend higher as fears surrounding Europe affect the euro. After any accelerated move however will come profit taking and a correction and the US Dollar Basket is due for such a move. The US Dollar reached an intraday high of 87.21 before pulling back steadily into the latter half of Monday's New York trading session.

The intraday 30-minute chart is continuing to show weakness and prices are breaking lower through the support of the uptrend line at 86.30 (S1). This move has broken the support of the Triangle pattern. There are however two support levels that could keep the 30-minute chart from moving much lower. First the 86.20 (S2) level that is near-term support and 85.97 (S3) which was the buying support surrounding the 86.00 whole number. Do not underestimate bullish sentiment amidst even the pullback from 87.21 because the Asian session which could continue the dollar rally if sellers cannot shift the sentiment lower by breaking these two key intraday support levels.

Charts courtesy of Autochartist

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