Another thing I've caught onto is if a new uptrend is starting in down trend- If it can move the downtrending EMA(60) then it can move more. Sometimes the uptrend may be short lived due to bad earning or what ever. Daryl Guppy Trend trading isn't about nailing the turn in trends its about joining uptrends on pullbacks and enjoying the ride for profit.
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You know on a side note- A lot people out there don't like SF but for Guppy GMMA its works just fine. Don't need all that inter day noise. Just set stops at a price of your liking , sell loser's before they become big loser's.
mac, when the price breaks above the downtrend resistance line, what is the EMA(60) usually doing? What do you like to see the EMA(60) doing at that time? (i.e. holding up above what benchmark?)
Does Guppy make the difference between using daily and weekly charts or is this only applied to daily charts? I assume using weekly charts is fine too but just wondering if those are mentioned.
The ema(60) that is talked in Guppy's book is saying if a trend change is strong enough it will move the ema(60) right off from the start. Your looking at 2 different group of averages . The 3-15 group is swing traders and the 30 to 60 group are the longer term investors.
I suggest buy the book but the PDF will work just as well. I like the hard copy as I can flip to pages 147-148. Guppy use's OHLC candle's and he suggest's that default chart indicators (MACD & RSI 14) will give false signals.
When I started really looking at charts from a Guppy stand point one can see what picks are really good picks and one's that are just going side ways.
Great video. Is there a way on SF to change the color of the EMAs? I thought it was really helpful to have the same color for the trader EMAs and the same color for all of the investor EMAs.
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