AutoChartist
Posted on July 31, 2007 at 5:04 in Uncategorized by Raghee HornerNo Comments »

You all know I am the #1 AutoChartist fan!!!  If you have attended any of my recent webinars you know I have been walking everyone through the steps of how I use AutoChartist every day. 

Chart patterns have long been a staple of my trading - and that will never change.

If you are a Premium FXStreet member - be sure to download your copy of AutoChartist and join me during my webinars here at FXStreet.  I’ll show how to get the most from it.  If you are not a Premium member, then you should seriously consider joining as one of the many perks is access to AutoChartist.

You may also download a 21 day free trial from www.autochartist.com

The is also excellent AutoChartist instruction available at www.autochartistdirect.com for those of you who are new to the platform. 

Momentum Trading with the Wave and Chart Patterns
Posted on July 31, 2007 at 4:58 in Uncategorized by Raghee HornerNo Comments »

Here’s a great article for momentum trading…I’ve been going "back to basics" during the FXStreet webinars with chart patterns, support, and resistance and this article is a perfect compliment to that.

You can read it here:  http://www.thirtydaysoftrading.com/30days.html

EUR/USD
Posted on July 26, 2007 at 20:17 in Chart patterns by Raghee HornerNo Comments »

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This chart is a perfect example of a channel reversal.  You could either play a corrective bounce if prices stay below the downtrend line resistance or you could play the breakout above the resistance.  If you choose the latter, use the CCI to confirm the break.

AUD/USD
Posted on July 26, 2007 at 15:52 in Uncategorized by Raghee HornerNo Comments »

I’ve been utilizing AutoChartist quite a bit in the chats and I think this tool is a powerful one especially if you are an independent trader like me.  Sitting in an office, usually by myself or occasionally with another trader can leave you feeling a little short handed.  There is always more your wish you could see or scan or react to and being one person — it can be tough.

One of the ways I tackle this in my office is to use AutoChartist.

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Here I was alerted to a double top pattern on the 30 minute AUD/USD

I am going to discuss some of the steps to confirm AutoChartist results.  These are from AutoChartist University.  (www.autochartistuniversity.com)  The indicator to watch closely is the Initial Trend which lets you know the strength of the trend that preceded the pattern formation.

In congestion or consolidation patterns like a double top, the trend should ofcourse be up before the pattern but it should transition into a sideways market as the pattern develops.

Where’s the Dollar Going in ‘08?
Posted on July 18, 2007 at 15:37 in Chart patterns by Raghee HornerNo Comments »
I get this question a lot, probably more often than any other…
I really have mixed feelings about it because frankly it doesn’t matter to the trader in me.  The consumer however does care, especially since speaking obligations will take me to Paris and London this year.
As a trader my main concern is movement…beyond that I avoid two common mistakes:
1) trading with a directional bias
2) expecting reversals
I think these two mistakes are common psychological traps many traders fall into and as ‘07 comes to a close I think many traders start thinking about the more mental aspects to their trading game.
I wake up each morning with no expectation of anything:  up, down, or sideways I wait for an opportunity.  I have seen the price action over the years so many times that it’s much like an golfer who is setting up a familiar shot or a quarterback recognizing a defensive play.
Many traders, especially traders watching the dollar, are anxious for a reversal…again, if I find myself waiting for a reversal it’s because I am not in the current trend.  Think about it:  If you are short are you anxious for any kind of reversal?  No way! You hope the trend will last forever.
I take it one step further.  I like to look at both sides of any trade.  When I am setting up a buy, I think about what a trader would perhaps see if they were looking for a short.  Any good attorney or debater would do the same:  look at both sides of the argument.
Ok, so where is the Dollar going in ‘08.  Honestly I don’t know and I don’t care.  But what I can tell you is what the chart is telling me.
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While prices have found some running room above my Wave, I can also see that the recent pullback will be the first opportunity we have to see whether the Wave will support the dollar above 77.00 - which is a big psychological level that dollar bulls hope will hold.
I think as long as prices on the daily chart can find support above the Wave the uptrend has a chance.  The next hurdle to the upside is 78.00.  Any continued climb higher will be measure by the dollar’s ability to attract buyers at each "00".
AutoChartist presentation
Posted on July 12, 2007 at 0:47 in Uncategorized by Raghee HornerNo Comments »

Hi Traders, I just wanted to let everyone know that tomorrow, Thursday, July 12th I will be presenting an INTRO into AutoChartist and chart pattern trading.  Premium members have access to this service and I’ve found very few people know how to take advantage of this fantastic tool.

Well wait no more…

Bring your questions - we’ll be getting in-depth with AutoChartist tomorrow. 

I will also record this presentation and make it available for playback.

By the way, if you are not currently a Premium member (you should be!) but you can also get access to AutoChartist and get a FREE 21 day trial at www.autochartist.com

a chart from this morning’s chat
Posted on July 3, 2007 at 16:57 in Uncategorized by Raghee HornerNo Comments »

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This was a chart we spent quite some time on this morning during the premium chat.  Two triangles formed:  one smaller and more agreessive in terms of the set up and the larger triangle that would be a better set up with a more sideways Wave.

The May webinar is FINALLY available…
Posted on July 2, 2007 at 2:25 in Uncategorized by Raghee Horner2 Comments »

Thanks for everyone’s patience.  The May monthly webinar playback is now available…it was a large presentation so it’s been broken into three parts and you can watch the playback by clicking here.

Get all the details of my favorite set ups as well as my favorite charting tools.  If you are a premium member this is a must for those of you attending the Tuesday and Thursday sessions.

Also, for my Friday morning Contest webinar participants, this will be especially helpful for our weekly meetings.

Enjoy!