Easiest way to determine BIAS
Updated
Here is an example of how to determine Bias for the day, or the open.
Using the Open and Low or Open and High of the Daily candle in conjunction with the midnight opening price, we can easily determine Bias for the day, or for placing orders during the NY open.
This example is shown on CL (Oil Futures) for a LONG BIAS. Just reverse for Short Bias.
( I mistakenly typed High when I meant Low in the example's text.)
Adding this to an existing strategy or entry technique can be very powerful.
I hope this is helpful for everyone.
Happy Trading!
Using the Open and Low or Open and High of the Daily candle in conjunction with the midnight opening price, we can easily determine Bias for the day, or for placing orders during the NY open.
This example is shown on CL (Oil Futures) for a LONG BIAS. Just reverse for Short Bias.
( I mistakenly typed High when I meant Low in the example's text.)
Adding this to an existing strategy or entry technique can be very powerful.
I hope this is helpful for everyone.
Happy Trading!
Note
Hello Everyone This Technique is meant for FUTURES.I am a futures trader, specializing in NQ & CL.
I don't know if it works on FX, sorry.
Note
IMPORTANTTo determine Bias
Use the CURRENT DAY's Open and H or L
Note
Hello Everyone,This is not meant as a stand alone strategy. This is meant to be used in conjunction with other things to give you confluence and confidence in your plan.
Note
You can look up 'TTrades OHLC' on YouTube for a great explanation of how to use this.Note
Hi Guys. You can stop over complicating bias and save yourself a lot of time and stress simply by looking at where price is in relation to the NY midnight opening price.
If it's ABOVE the midnight open, bias is looking to short (looking for downside)
If it is BELOW we are looking for upside/ longs.
You need to pair this with TIME. so, during the AM session, before the NY open- where is price? Above midnight open or below?
has a high or low from the previous session or day been taken?
answer that and there is your bias.
If you are a scalper or intraday trader, you don't need more than this.
hope this helps some of you!
trade well friends
X
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