Last week I introduced two quick and simple methods for establishing the "bigger picture" bias for the trading session.
Let's look at this concept one more time, reviewing all sessions since last week's publication.
We will focus this time on the opening range method (my preferred method) and go into a little more detail.
Friday 3rd August 2018
Monday 6th August 2018
Tuesday 7th August 2018
Of note… this session was also the focus of a social media post. You can see it here on either twitter or facebook.
Wednesday 8th August 2018
Thursday 9th August 2018
Next Step…
Now it's time for you to take action.
If you like the idea, start applying it to your markets for a few weeks to see if it adds value to your own analysis and trade decision making.
Maintaining context is essential for effective price action trading. The "bigger picture" session bias is a key part of this context. And will hopefully have you trading (more often than not) on the right side of the market.
Happy trading,
Lance Beggs
Very strong article, really enjoyed it. While postponed as a potential for future improvement (there are still “simpler things” worth working on). Thanks, Lance.
Thanks Nik, I’ve found the opening range bias nicely complements my usual YTC PAT method of assessing bias. When they confirm each other I can trade with more confidence. When they conflict, I can back off a little.