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Trading Using Control Bars

  • #1
  • First Post: Edited Jul 23, 2011 5:59am Jul 15, 2011 1:22am | Edited Jul 23, 2011 5:59am
From today, i will be posting control bars for EU and GU and i shall be day trading and swing trading based on those...attached is a 15M EU chart from today with the control bar marked as A..
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  • #2
  • Jul 15, 2011 1:30am Jul 15, 2011 1:30am
Never heard of a "control bar" before.

What is the definition of a control bar?

I have an idea by looking at the chart but can you be more exact?

Thanks.
  • #3
  • Jul 15, 2011 1:34am Jul 15, 2011 1:34am
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 from a couple of days back. 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.
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  • #4
  • Jul 15, 2011 1:39am Jul 15, 2011 1:39am
Quoting ns_karthik
From today, i will be posting control bars for EU and GU and i shall be day trading and swing trading based on those...attached is a 15M EU chart from today with the control bar marked as A..

using this chart...i entered on test close to low of this control bar....4152 went long....it bounced a little and came straight back down and took me out at low of control bar for loss of 10 pips...

the close of that 15 M bar confirmed to me the break of the control bar...so i wait for the retest of the low of the control bar and entered short at low (4146)....
  • #5
  • Jul 15, 2011 1:42am Jul 15, 2011 1:42am
Attached is the chart for EURUSD 5M from 2 days back. 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.
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  • #6
  • Jul 15, 2011 1:45am Jul 15, 2011 1:45am
Thank You for your reply.

I have no comment at this time but I will be following your thread.

Good luck to you.

  • #7
  • Jul 15, 2011 1:46am Jul 15, 2011 1:46am
Quoting Astroman
Thank You for your reply.

I have no comment at this time but I will be following your thread.

Good luck to you.

thanks....
  • #8
  • Jul 15, 2011 1:48am Jul 15, 2011 1:48am
Quoting ns_karthik
using this chart...i entered on test close to low of this control bar....4152 went long....it bounced a little and came straight back down and took me out at low of control bar for loss of 10 pips...

the close of that 15 M bar confirmed to me the break of the control bar...so i wait for the retest of the low of the control bar and entered short at low (4146)....
moved SL to 4150...4 pip SL...just above low of control bar...
  • #9
  • Jul 15, 2011 2:02am Jul 15, 2011 2:02am
there goes my SL...-4 pips...
  • #10
  • Jul 15, 2011 2:03am Jul 15, 2011 2:03am
crazy markets this week but am just trying to explain how we trade these bars...
  • #11
  • Jul 15, 2011 2:12am Jul 15, 2011 2:12am
Just now noticed my mistake...a new control bar had appeared and i didnt notice...took out my stop when my stop should have been beyond that bar.....sheesh...
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  • #12
  • Jul 15, 2011 2:20am Jul 15, 2011 2:20am
Attached is the chart for GU with the control bars marked....watch out for PA around the lows and highs..idea is to enter long near the lows if PA is good and short near the top if PA says so...if the bars are broken, go short/long accordingly....
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  • #13
  • Jul 15, 2011 2:29am Jul 15, 2011 2:29am
Quoting ns_karthik
crazy markets this week but am just trying to explain how we trade these bars...
You are putting a lot of effort in trying to explain them.

Interesting.

I like putting new ideas to the test.

Enjoying your post so far.

  • #14
  • Jul 15, 2011 2:32am Jul 15, 2011 2:32am
Quoting Astroman
You are putting a lot of effort in trying to explain them.

Interesting.

I like putting new ideas to the test.

Enjoying your post so far.

tough balancing posting and trading when the PA is so fast...and i want to post it as i see it cos i dont want to be blamed for stating things after the fact....
  • #15
  • Jul 15, 2011 2:41am Jul 15, 2011 2:41am
Quoting ns_karthik
Attached is the chart for GU with the control bars marked....watch out for PA around the lows and highs..idea is to enter long near the lows if PA is good and short near the top if PA says so...if the bars are broken, go short/long accordingly....
thanx for ua good ideas sir but do u think is good we first know how to get them and then teach us how to use them?
  • #16
  • Jul 15, 2011 2:42am Jul 15, 2011 2:42am
Quoting ns_karthik
tough balancing posting and trading when the PA is so fast...and i want to post it as i see it cos i dont want to be blamed for stating things after the fact....
I hear you. Missed a couple of trades because I was posting on here before but the weekend is near.

Concentrate on your trades you will have more than enough time in the future for posting on this topic.
  • #17
  • Jul 15, 2011 2:48am Jul 15, 2011 2:48am
Quoting fxrambo
thanx for ua good ideas sir but do u think is good we first know how to get them and then teach us how to use them?
good question...browse thru the other threads and u will notice that i have shared many of my strategies....and still, over the yrs, i continue to get either silence from fellow members for my strategies or pure hate...so i just wanted to check whether anyone is interested at all or whether it is going to be a waste of time..
  • #18
  • Jul 15, 2011 3:24am Jul 15, 2011 3:24am
Quoting ns_karthik
good question...browse thru the other threads and u will notice that i have shared many of my strategies....and still, over the yrs, i continue to get either silence from fellow members for my strategies or pure hate...so i just wanted to check whether anyone is interested at all or whether it is going to be a waste of time..
It is not a waste a time even if no one gets anything out of it.

You have a belief, at the risk of ridicule and hate you still put them down in black and white for all to see.

Why people should throw hate your way for just stating your opinion/beliefs is beyond me. It is not like you are trying to sell anything or something.

I am going to read the whole thing over this weekend so I can actually concentrate on what you are saying and then if I have any comments or questions I will ask.

Knowing full well that you will more than likely face ridicule for starting this post I have to give you a . It takes a some courage to put ones thoughts and beliefs and strategies on trading in a public forum for all to see.

Not that I agree with your methodology, I have not had the time to really look at it. But so what if I agree or anybody else?

If we all had the exact same opinions on everything then there would be no market.
  • #19
  • Jul 15, 2011 3:24am Jul 15, 2011 3:24am
Quoting ns_karthik
good question...browse thru the other threads and u will notice that i have shared many of my strategies....and still, over the yrs, i continue to get either silence from fellow members for my strategies or pure hate...so i just wanted to check whether anyone is interested at all or whether it is going to be a waste of time..
wheeew i hope u r not offended on wat i asked i just felt may be is better to know the calculation be4 explanation anyway thats all sir and am sorry if u took it the wrong way
  • #20
  • Jul 15, 2011 3:25am Jul 15, 2011 3:25am
Quoting ns_karthik
good question...browse thru the other threads and u will notice that i have shared many of my strategies....and still, over the yrs, i continue to get either silence from fellow members for my strategies or pure hate...so i just wanted to check whether anyone is interested at all or whether it is going to be a waste of time..
Thanks for your strategy. Do you realise that you have not told us anything? Your charts are just charts with an A, B, C.... printed. But what is the strategy? Is it that we wait for you to print an A, B, C...on a chart and then you tell us what that means and that we missed some trade? Its not possible to comment on blank charts. Maybe you should do your magic on the latest EU chart and show us how good your system is in an few hours?
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