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The rainbows are calculating EW impulse and correction waves,...

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    The rainbows are calculating EW impulse and correction waves, The EMA's are calculating crossing points and thus trend changes. The channels serve multiple purposes, 1. to smooth the movements so up and down trends are clearer and free from the noise, 2. to set trading point buy and sells when I am channel trading, 3. To make it easier to see the EW curve patterns and, once a wave 1 and 2 are defined to find the probable retrace points for the ABC correction after wave 5 (support channel - not there yet because we don't have a complete W1 & W2 for this cycle yet.

    MACD gives trading timing and is faster than the EMA cross, RSI obviously for Strength Weakness and probable next direction.

    The shaded areas are Ichimoku clouds which are good for finding dynamic support and resistance areas.

    When I have arrows they are generally predicting turning points based on either EW wave 1 height, or traditional chart patterns like wedges, etc.

    Horizontal lines, particularly rays are showing buy (if greenish) or sell (if redish), or important for some other reason if another colour.

    I run multiple charts on the one company simultaneously - 1 min 5 min 1 hour and daily and sometimes weekly, and I have slightly different analytics going on each. Depending on which I post the rays may mean different things. When I post the daily chart the rays are usually pink for the current day and show the expected daily range, whereas the enclosing channel range for the current day will usually be marked with blue or purple rays, so a day might have two ranges - high probability short run channel and lower probability enclosing channel.

 
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Last trade - 15.46pm 26/04/2024 (20 minute delay) ?
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