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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What I'm doing with today's dollar pullback.

Posted 1 year ago | 10:34 AM | 18 Jan 2012 | Comments

My trades have in some way been influence by the U.S. Dollar Index's continued uptrend, just over two weeks ago I wrote why that the pullback to the 20 period SMA close was simply a correction and that the greenback would continue its bullish ways. And it did.

So here we are again, another pullback within the context of what is still an uptrend. This time however I am going to be a little more cautious about my upside expectations. I still expect there to be support within the 34EMA Wave however I am concerned about the ability for the greenback to press to higher highs; there was a great deal of congestion in front of today's correction and for that reason there is a greater chance of a market trend transition into perhaps distribution.

Remember that the U.S. dollar is still in an uptrend so to be bearish HERE would be premature and unjustified.

The U.S. Dollar Index has pulled back to the support of the 20 period SMA close this morning on more bullish headlines out of Europe. This trend in the euro is headline driven so then question then is will be if the IMF is unsuccessful in getting and then lending (up to) another $500 billion, could this be where the euro's climb ends? In other words, has the short-term risk picture improved as much as it's going to?

If so, the timing would put the EUR/USD right at the 20 period SMA close resistance within its daily downtrend.

The daily EUR/USD will trigger a trend-following swing short as prices rally into the resistance at the 20 period SMA close and the 34 period EMA low.

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