Wednesday, July 13, 2011

Analysis of Control Points on EURUSD



Attached is the chart for EURUSD 5M. In the morning, during the asian session, i had indicated bars A B and C and marked the control price points as 3968, 3988 and 4037. After bar C, 3968 was never tested again but 3988 was broken and tested as can be seen from the chart. This gave a us from 3988 to 4037 for 45 pips with DD of less than 5 pips.

In the London session, i had tweeted that the next control price point was 4057. Just before point D, you can see that price being broken and then being retested at point D. At the retest, we enter a long for a 50 pip ride to 4110 with a DD of 7 pips !! Great trades again.



There we