Cynthia has a great chile colorado sauce that uses whole, dried chiles. If you have only the powdered chiles, here's a basic chile colorado sauce that I've used for years:
Yield: 2 cups
2 Tbs shortening
2 Tbs flour
1/4 to 3/4 cup red powdered chiles (I sometimes mix different heat levels in various ratios)
2 cups cold water
3/4 tsp salt
1/2 tsp garlic salt (I use only salt and fresh, minced garlic)
oregano (opt)
cumin (opt)
(sometimes I add a drop of liquid mesquite smoke)
1. Heat shortening on med heat; stir in flour, cook 1 minute.
2. Add chile powder (amt depending on heat desired), cook for 1 minute.
3. Gradually add water, stirring for no lumps.
4. Add seasonings to taste; simmer for 10-15 minutes (add water, if needed to desired consistency)
I usually use this sauce for huevos rancheros, but it works for carne adovado, using pork. Add onions, potatoes, pork. Good w/flour tortillas. (And it will up your capsaicin tolerance.)