Charts Heads-up for Pro Forex Trading Chat Room

Is the room up and running? i can't find it in the day traders menu and the express link doesn't work either

November 7th mate, November 7th says in bold letters right at the top. Hope you will be able to read the actual chat better then the thread, otherwise it will be of no use to you.

It'll be open in one week 7.11.

Great idea Bbmac - I hope it takes off.

How do you decide the difference between obvious and potentially weak fractal swing zones that your colour key refers to?

Hi,

It is part of a proprietary methodology for pre-identifying and rating the potential strength of potential support/resistance factors and their confluence/clustering...as a result I won't go into print with it but I am sure that as you hear me speak in the chat room it will becomes clearer. As an example a previous near-term obvious fractal 1hr swing hi zone ( ie a previous price pivot or called a previous swing hi or lo for short) may not be as strong in terms of it's ability to offer resistance if tested again in the near-term as say a previous 1hr/4hr swing hi zone or a previous 1hr swing hi zone with say a fib and Daily R1 etc...

G/L

superb idea. I will see you in the chatroom monday 7th.

Hi bbmac
Can a so far unsuccessful, but very serious trader join the discussion, as I have to become consistently profitable within 6 to 12 mths from now, I am doing this full time.

Thanks for the idea, one will always be rewarded for helping others. I like your avatar.

You would be welcome....all are welcome...hoping it proves useful to all that make use of it..

G/L

Usual high positive correlation between eurusd and gbpusd has broken down today (and last friday too to some extent) ...see charts below showing eurusd and gbpusd daily candles (today's not closed yet obviously.)

Remember the date: Monday Nov 7th 0815am gmt onwards....


G/L

Just popped back to desk to update charts, eurusd daily looks interesting.

eurusd daily - any demand at previous resistance/76.4% fib or will it test deeper in the zone or lower ? it's probably right about the steepest ascending trend line on this daily t/f right about now...Price @ 144% of it's 20day atr so far today in the fall.

G/L

Cable mirrors continued Eurusd fall so far this morning following Greek referendum react in that pairing. Eurusd challenging 50% of the recent 3143-4250 move up now.

Current Daily Lo in cable is @ the previous day's lo - previous 1hr/4hr swing lo zone, 38.2% 5681-5665, Daily S1/Weekly S1.

All eyes on £ now as market awaits the 3rd Qtr Gdp-prelim ..+0.4% and most likely see some £ buying on the knee-jerk (+?,) 0.1% or below and m,ost likely some £ selling on the knee-jerk reaction (+?.) Forexcrunch.com reckon +0.2% and above will see £ buying.

Near-term current 1hr screenshot as below for gbpusd.

G/L

I will just contibute every now and again to this thread as I am doing, and start properly by supporting the chat with charts etc here when the chat room opens this coming Monday 7th November.

G/L

eurusd challengiing 50% of the main recent daily/weekly swing up at the previous daily swing hi/lo zone...

Greek referendum react saw the continued fall.

G/L

0928 saw release of the Uk Manuf PMI - 47.4 well below forecast and previous, and tipped back under the 50 level which is considered recessionary...knee-jerk sell off in £, then 0930 Uk Q3 Gdp and +0.5% so better than prev/forecast and a small knee-jerk £ rise followed by a further drop to 5924 as I write this.

Would seem the bad manuf Pmi has tempered any Gdp upside react so far in gbpusd ?

G/L

cable challenging the previous dly/4hr part of the previous dly/4hr/1hr swing lo zone running 5935-25-00-5889, 2 x unbreeched fibs of the major swings up from 5270-6165 at current lo - another lower in the zone.

Yesterday's 6165 hi in the previous 4hr swing hi zone discussed in post #8

Current Near-term 4hr screenshot as below.

G/L

Another strong down day so far on eurusd - supported at the previous daily swing hi (for now?) [prev resistance-potential rbs]

Cable pretty much followed eurusd down and has found support at a previous 1hr/4hr/daily swing lo zone confluence with 50% 5681-6165.

G/L

It will be good to hear other traders views in real time once the chat room starts this coming Monday Nov 7th. Using voice or text a link can be placed in the text to show any supporting charts posted to ff.com (or other places.)

G/L

Can cable break above the underside of the previous 4hr trend line/rising channel ? ...supply came in there confluence with 76.4% 6090-5889 aftyer the continued rise off yesterday's lo this London morning session.

G/L

As an aside - it's funny isn't it, the Greek Pm says '..Oh We forgot to ask the people...maybe we should do that..' and the rest of Europe scream 'Oh no - don't do that..!' It's a sh1tty deal for the Greeks anyway and as Russia and Argentina have found out in the recent past, Sovereign default isn't the end of the world !

Anyways, politics aside, if the Greek Referendum goes ahead ie if The terrible twins morphed into one - 'Merkozy' don't scupper it first, what a day that might be as result is announnced - either way really...a No vote could see the biggest collapse in markets since Lehman and a Yes vote - probably a relief rally.

Anything can happen,

G/L