Easiest way to determine BIAS

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!

Commentaire:

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.

Commentaire:

IMPORTANT
To determine Bias
Use the CURRENT DAY's Open and H or L

Commentaire:

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.

Commentaire:

You can look up 'TTrades OHLC' on YouTube for a great explanation of how to use this.