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Old 07-28-2008, 03:46 PM
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rrram2 rrram2 is offline
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Join Date: Apr 2008
Location: Goochland VA
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Default Yes I do this

But often I dont have as many as I would like as my chart gets clogged
but it is good in long range stuff as you can see patterns. And often price respects certain levels especially those around 50 and 200 I use 200 just because everyone else does, so I see what they see as well as all my other stuff, which really amounts to nothing really. I never even use the same stuff I have so many saved charts.

Quote:
Originally Posted by 4xStar View Post
This comment just reminded me of something I learned a while back from another trader (who made a lot of money with it) while trading equities. I have not applied it to forex, but as of today I give it a try & see if it can help decipher our guppy moves Whatever might work....

What you do is this: set up a new guppy chart, which can be toggled among tf's. Make everything black on the chart so you do not see price bars at all.
Now start adding ma's to the chart, using fib numbers and starting with 5, making each one a different pretty color
So it would be 5, 8, 13, 21, 34, 55, 89, 134, 233. I usually stop there.
We called them "rainbow ma's".

What you are watching for is to see all the lines in order & preferably spread a bit apart and I would say, from the hourly to the daily tf ... but we will need to experiment.

For example, on July 22 at 1300 ET if you look at the hourly price chart, there was not a lot of indication where price might go next .. but the rainbow ma's had just moved into alignment, the top 4 in particular untangled themselves from the prior few hours price action and were now in order ... could be a slightly leading signal for things to come. That would be nice.

Likewise on July 15, around 4am on the hourly, the rainbows lines up in reverse, looks like an early indication that she would be breaking that long consolidation to the downside, which she did.

Well FWIW, I'm throwing it out .. play with it as you will, at the least you will have a pretty chart to look at! We used to use it to spot penny stocks that were ready to start seriously moving .. so, as said, I have no idea how it will work for forex & especially the guppy so use at your own risk.
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