Control Price points are calculated based on the high/low and close of specific bars. Such bars are available in all timeframes right from 5M to the weekly. Of course, each would have its own characteristics, TP and SL.
These bars are not fixed and as price changes and new bars appear during the day, there is a chance that new control bars appear and hence new control prices appear during the course of the day.
So, the way it is done on an intra-day basis is to wait for such a control bar(s) to appear. They might appear during any part of the day but usually once during each session. Once they appear, then u can easily get the control price points. These bars control the price during the session and thats why they are called control price points. These bars try to hold the price within the bars but if price moves out of it, then they dont allow price to come back inside.
This is used while trading for the day.
Attached is the euro chart 5M chart for the day. Bars marked as A and B are the control bars. This can be found immediately after the bar closes (how will be discussed later) and you can see that how these bars try to keep the price within them and when the break down happens, these bars dont allow the price to come back inside easily.
Now the price is back inside these bars and again these bars will try to keep the price within them. So you can trade within these bars or if price breaks out of these bars, then you can trade those as well.
