Good morning all,
I’m glad to see the thread has been restored to peace and to focus on the Guppy.
If you want to see where support lies with a more dynamic representation than a simple horizontal line, do this:
On the hourly chart: draw a fib fan from 208.02 (0600 ET candle on 07/16/2008) to 213.87 (the 0600 ET candle on 07/21/2008). Based off of that, what do you see since 0300 ET this morning?
Also: as mentioned on Friday, price was testing resistance established at the 78.6% fib retracement line (the most common fib level for reversals) @ ~214.88 for the range of 215.89-211.90 (this fib retracement study is also something worth drawing on your chart). After so many touches Friday and then yesterday, price fell off in early Europe: some nice pips there shorting the pair with a stop and reversal a bit above 214.88
Now I’m off to talk about “other” markets.