Trading Using Control Bars | Page 6 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Tick Bars and/or Range bars 5 replies

Small help with the code to count up-bars and down-bars 12 replies

I need Renko bars that also show inside bars 3 replies

It's interesting how different range bars are from regular bars 0 replies

Inside bars vs pin bars 3 replies

Attachments: Trading Using Control Bars
Exit Attachments

Trading Using Control Bars

  • #101
  • Jul 25, 2011 10:55am Jul 25, 2011 10:55am
Quoting whatfx
hey how did you get your charts to look in that colour ?

imho these control bar thingy are really not properly thought through. cant see them working..

can u tell us why u think it is not working rather than just typing what u feel and misleading others? explain ur reasoning with charts on why this doesnt work else delete ur message...
  • #102
  • Jul 25, 2011 4:50pm Jul 25, 2011 4:50pm
Quoting HiddenGap
I don't want to disrupt the thread as this is a thread about Control bars and not WRBs or my Effort Bars. I will, however, answer this question.

The nice thing about WRB Analysis is that it is not a trade signal. Any trade signal/method a trader uses can be used in conjuction with WRB Analysis. A trader can use Japanese Candlestick patterns, MACD signals, or any other entry signal method.

The point I was making with my Effort bars was that since I do not know if you have a Supply/Demand Delta Zone until I see the resulting price action, I am...
Thank you, this is incredibly precise...gets my head spinning.

And nskarthik´s example is very helpful.

So now that we have such brilliant posts ( plus brijon ), I hope this thread can go on uninterrupted.



______________
michael
Be like water.
  • #103
  • Jul 26, 2011 10:19am Jul 26, 2011 10:19am
Attached is the hourly chart of the euro. For the past 2 days, i have been insisting that the high of the control bar (marked A) which comes in around 1.4325 would be a good place to long. Just look at the price action around this high (marked with a red line) and also look at where it is now.

All that you had to do was watch the price action and place a buy at 4325 or 4330 and with a little patience , you would have made more than 150 pips by now, as i did. If you watch carefully, the drawdown would not have been more than 15 pips at any stage on this trade and you would have made 150 pips. Thats a RR ratio of 10:1. A massive trade. If you are good at spotting control bars, you would see that the latest control bar's high comes in around 4470 and i would be watching the PA around that for a short.
Attached Image (click to enlarge)
Click to Enlarge Name: eud.gif Size: 11 KB
  • #104
  • Jul 27, 2011 10:14am Jul 27, 2011 10:14am
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.
Attached Image (click to enlarge)
Click to Enlarge Name: eud.gif Size: 11 KB
  • #105
  • Jul 27, 2011 9:59pm Jul 27, 2011 9:59pm
Its quite early in the morning for me but i just wanted to update the new control bar in the euro. As rightly pointed out by one of the readers of our blog, Pat, we have a new control bar in the euro. Easy to spot with its high range. I have marked it with an A. Its low comes in around 4376 and you can easily see how it has acted as a good resistance.

We could have shorted it during the late US session and be up by about 40 pips now with DD of less than 7 pips. Anyway, any move beyond this low, into 4385 would be good for a long (after watching PA of course) and that long should travel to the other end of the control bar which comes in around 4450. Keep a watch for it today.
Attached Image (click to enlarge)
Click to Enlarge Name: eud.gif Size: 9 KB
  • #106
  • Jul 27, 2011 10:18pm Jul 27, 2011 10:18pm
Quoting ns_karthik
Its quite early in the morning for me but i just wanted to update the new control bar in the euro. As rightly pointed out by one of the readers of our blog, Pat, we have a new control bar in the euro. Easy to spot with its high range. I have marked it with an A. Its low comes in around 4376 and you can easily see how it has acted as a good resistance.

We could have shorted it during the late US session and be up by about 40 pips now with DD of less than 7 pips. Anyway, any move beyond this low, into 4385 would be good for a long (after watching...
That's good reason for long imo The reason of widespread bar is something I call the lack of efficiency in the market and it has to cover back the whole bar to gain back its efficiency. Such an aggressive widespread bar is not healthy for any trend, in vsa, it's even the notice for potential trend reversal.

It'll return, but the timing of the move is critical
  • #107
  • Jul 27, 2011 10:26pm Jul 27, 2011 10:26pm
Quoting petedeluiz
That's good reason for long imo The reason of widespread bar is something I call the lack of efficiency in the market and it has to cover back the whole bar to gain back its efficiency. Such an aggressive widespread bar is not healthy for any trend, in vsa, it's even the notice for potential trend reversal.

It'll return, but the timing of the move is critical

ideally i would be going long on euro at around 4330, the area of previous support...but for confirmation, we could wait for 4385 and then take long.....

good point there , Pete....
  • #108
  • Jul 27, 2011 11:10pm Jul 27, 2011 11:10pm
Hi NSK,

nice to see your thread again. I am your fans
  • #109
  • Jul 27, 2011 11:58pm Jul 27, 2011 11:58pm
Quoting yisa
Hi NSK,

nice to see your thread again. I am your fans

hey thanks mate !!
  • #110
  • Jul 28, 2011 5:53am Jul 28, 2011 5:53am
his is the trade i took today using CBA. This again shows the power of CBA. In the morning, i had pointed out the control bar with its high around 4450 and low around 4375. I have attached the updated hourly chart with the bar marked as A and the high marked with a red line. Look at the price action. The flurry of activity began about an hour after London. The price broke through the red line, acting as resistance. I was long from 4330 and with the break of the low of the bar, i was waiting for a retrace.

The retrace did come but it was too quick and too powerful and so i just held off till the hourly bar closed. I decided that i will look at the close of the hourly bar and if the close is good and above the red line, i will add to my longs. But look at how the bar closed ? The bar closed below the red line and it was a huge nice pin bar. A sure sign of bearishness. At the close of the bar, i closed my longs and waited for a good time to short.

I switched to the 15M chart (attached) and in the area marked A, you can see a nice beautiful bar retracing exactly to the red line. There i took the short. And down we went. the DD was less than 4 pips and we kept going down down and down. There we have our 100 pip trade. I took the 100 pips with a DD of 4 pips !!

Does CBA require any more proof ? This is the power. You get huge trades and as the SL is less than 15 pips usually, your lot size is big and you can make good money.

PS - In case anyone is confused with the buy and sell lines on the chart, this platform is a demo platform running one of the EAs that i am developing. The buy and sell are from that EA...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu1hd.gif Size: 9 KB
Click to Enlarge Name: eu15md.gif Size: 9 KB
  • #111
  • Jul 28, 2011 7:30am Jul 28, 2011 7:30am
Hi NSK,
shoule it be good idea to sell eu after the price went up beyond 1.4375 and went south again broke 1.4375, then retest this price level?
I think the best chance is sell eu after that M15 bar which marked with red arrow. how about your opinion?
Attached Image
  • #112
  • Jul 28, 2011 9:16am Jul 28, 2011 9:16am
Quoting ns_karthik
his is the trade i took today using CBA. This again shows the power of CBA. In the morning, i had pointed out the control bar with its high around 4450 and low around 4375. I have attached the updated hourly chart with the bar marked as A and the high marked with a red line. Look at the price action. The flurry of activity began about an hour after London. The price broke through the red line, acting as resistance. I was long from 4330 and with the break of the low of the bar, i was waiting for a retrace.

The retrace did come but it was...
=====================================

Excellent trade this morning NS, but seeing that I have just read through your Thread once (and I am planning in rereading it until I get it completely), why did you not short immediately after the H1 chart closed BELOW the Red-line? Why drop down to M15 for confirmation? The price may not have come back to retest the Red-line which is shown in your M15 picture?

Kindly treat my enquiry based on the fact that I may have missed out on something very important and I apologise unconditionally if I did.

Thanks for replying.

Best regards,
Hercs
  • #113
  • Jul 28, 2011 9:31am Jul 28, 2011 9:31am
NS, would you mind drawing the Bars for yesterday and today on the Cable, plse?

Here is my attempt fwiw and your comments plse.

Thanks in advance.
Attached Image (click to enlarge)
Click to Enlarge Name: 2011-07-28_Cable-M30.png Size: 43 KB
Hercs
  • #114
  • Jul 28, 2011 12:52pm Jul 28, 2011 12:52pm
Not exactly the same thing I know, but I believe the Effort Bar in question would qualify for a Control Bar.

Here's something to keep in mind. Many times the High Volatility bar will be associated with a news release. The Effort Bar on the chart below was caused by the Jobs release. Now one has some sense of the price action PRIOR to the any trade signal that may occur.

From my perspective, the Effort Bar (or Control Bar) would not be a trade signal in and of itself. Once the Effort Bar appears and we have Price Action that either confirms or denies it as a Key change in the Supply/Demand Dynamic, we have an area that is ideal to take trades via whatever method one uses.

Keep up the good work NS.
Attached Image (click to enlarge)
Click to Enlarge Name: Price 5.png Size: 180 KB
Without VSA, you're playing checkers while the Smart Money plays chess.
  • #115
  • Jul 28, 2011 2:50pm Jul 28, 2011 2:50pm
Excellent Thread Karthik

Please ignore the haters and carry on with educating those who are open minded enough to embrace new ideas.

I've attached an update on the CBs you showed in EUGBP. Interesting results when you run a fib from the H of the 1st CB to the low of the 2nd CB.

127 and 144 Xt held the BO for the 1st couple of days and 50 held the re-traces. I know this is not strictly ur method but it is interesting nonetheless.

4 Days later the low of the 2nd CB was still acting as support (1st test) Now we have a new CB marked from 08795 to 08758

Seems to be holding PA pretty well so far.


Best regards


V
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbph1.gif Size: 32 KB
  • #116
  • Jul 28, 2011 3:22pm Jul 28, 2011 3:22pm
Hello Karthik

Here's a chart of EURUSD H1 containing all the recent CBs which I've labelled CB1- CB5

Working through the PA it now starts to all make sense. The green area is a previous supply now probably demand zone.

CB4 resist all bulls during Asia session and the high of CB2 contains the bulls from London session.

Why did CB2 hold london bulls ? My guess is because momentum and break out traders who bought Thurs Fri or early Asia Tues got trapped by CB4. So when London open reached that area many took the chance to get out at BE. Prob thats why such a strong rejection.

I have to admit analysing PA using CBs have been something of an eye opener. Time to take a look at GBPUSD now !

Regards


V
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdcb.gif Size: 35 KB
  • #117
  • Jul 28, 2011 3:38pm Jul 28, 2011 3:38pm
Hi Guys

Here's a couple of things I also noticed when running some fibs.

Go from low of CB1 to high of CB2

The green zone is almost exactly between the 23.6 and 38.2 level.

Also to date there has been no hourly close above the 618 fib.

Run a fib between HL of CB1.

Todays low is at exactly 50% of that bar

Also green zone is exactly between 38.2 and 61.8 level of that bar

Of course it's all coincidence

Food for thought



Cheers


V
  • #118
  • Jul 28, 2011 8:43pm Jul 28, 2011 8:43pm
Hey Karthik nice to see you here too, have a question: what combination of TFs do you like?, I was seraching for CBs on 1 hour and traying to find entries on 5 min, but got a lot of false signals. Maybe is a good idea to use 15 min to find entries, isn't it?
Please keep posting, I like your style...
  • #119
  • Jul 29, 2011 6:26am Jul 29, 2011 6:26am
its nice of u to start again.
  • #120
  • Jul 29, 2011 11:05am Jul 29, 2011 11:05am
yes. There is an IGNORE button that everyone can click!!

Quoting ShoppingGuy
No need to be distracted. Everyone can make comment and everyone else can ignore them.

So the Control Bar is a breakout at 1200(whatever tomeframe) followed by several hours of range action and trades (if you can be bothered trading a range). What happens next?
To free Gazans of Hamas, use whatever it takes.
0 traders viewing now