Wednesday, July 27, 2011

CBA does it again on the Euro

CBA does it again !! Just open up the hourly chart which i showed in my previous chart. I am putting up the chart again. The control bar is marked as A (same as in the previous article) and i have marked off the high of the control bar with a red line. Look at the beautiful price action around it. Break, retrace exactly to the pip of where the red line is and now we have fallen 100 pips from there. DD ? Less than 5 pips.

Just on the euro today, just following the basics of CBA, you , like me, would have made 100s of pips. I can keep quoting more and more examples from various currencies. It all reiterates the same point. This is the power of CBA. None of it is marked after the fact. The control bars are there for all to see. Anybody can locate them. I have marked them over and over again in several articles of mine and you can see that they prove wonderful time and again.