Practical Exercise 2

[Simon Dyde]

Please see attached my Exercise 2 screenshot for MOR and Control.

It shows GBPUSD D1 for June with the price action well above the MOR and the buyers in control, equals a strong buy signal.

Regards,

 

Simon

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[Rich Fitton]

Hi Simon,

Yep, the buyers have GBPUSD at the moment.

[Steve Hall]

Hi,

Here are my 2 screenshots for the practical exercise:

 

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[Steve Hall]

Please can you confirm that my MOR and control is correct on both of these?

Can you confirm that I am supposed to be using 1hr charts to find MOR and then look at daily chart for control – is that correct?

I ask as a previous post someone posted pictures of a 4hr.

Many Thanks

Steve

[Rich Fitton]

Hi Stephen,

Your analysis all looks good. Yes, please use 60min chart to set the MOR and then refer to the daily chart to establish control. Don’t worry about seeing 4hr charts. Other traders may already be in the habit of following them, which is fine, but it’s still the daily time frame that sets control.

Just a quick one on your MOR prices… all look in line apart from the EURUSD low. I’d expect something in the region of 1.08913 (give or take a pip). It came on the 10am bar, would you mind checking your chart just to make sure we’ve got you looking at the right window of time?

[Author]

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