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!
Bình luận:
IMPORTANT
To determine Bias
Use the CURRENT DAY's Open and H or L
To determine Bias
Use the CURRENT DAY's Open and H or L
Bình luận:
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.
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.
Bình luận:
You can look up 'TTrades OHLC' on YouTube for a great explanation of how to use this.
Ý tưởng liên quan
ES View
The_Lioness
about ES1!
View on CL
The_Lioness
about CL1!
I am a futures trader, specializing in NQ & CL.
I don't know if it works on FX, sorry.