Wednesday, July 13, 2011

Control Price Point that could be traded either way


Attached is the 5M chart. Notice how the control price point at 1.5956 worked. It could have been traded either way. There was a break above and retest of the point and then a move above which could have been traded for 30 pips.

Also, notice point B where a break below and a retest takes place. This can be shorted and you could have made 30-40 pips with a DD of less than 5 pips !! Thats the power of these control bars.