Silver Futures (May 2021)Education
Practice drawing Price Control Points within value areas.
Control Price is "A pivotal support or resistance area inside the value area. The best way to think of the control price, or pivotal area, inside of the value area is that it acts like gravity, attracting price above it and below it as long as price is within the vicinity of the value area. In this picture I attempted to draw in several control points and circle price reactions.
After doing this I am convinced that this is an occurrence. I feel I did myself a slight disservice using the time frames 15 and 5 to draw them in. I think I would get more useable results if I used something like the 240 and 15, just to get a bigger change in lens when identifying pivot points and getting a more complete picture of possible market forces.
After doing this I am convinced that this is an occurrence. I feel I did myself a slight disservice using the time frames 15 and 5 to draw them in. I think I would get more useable results if I used something like the 240 and 15, just to get a bigger change in lens when identifying pivot points and getting a more complete picture of possible market forces.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.