💎Mastering Daily Bias
The goal for this series of threads is for you guys to finally grasp the concept of daily bias.
Daily Bias is one of the most important things you need to learn as an ICT trader.
My goal is to help you in your journey.
Chapter 1-Weekly Candle Direction
The goal for this series of threads is for you guys to finally grasp the concept of daily bias.
Daily Bias is one of the most important things you need to learn as an ICT trader.
My goal is to help you in your journey.
Chapter 1-Weekly Candle Direction
In this first chapter I will cover the topic of the weekly candle direction again and in future chapters i will build up on it and make specific threads about each topic in depth.
Consider this as a roadmap/introduction of the topics that will be covered.
Consider this as a roadmap/introduction of the topics that will be covered.
The most important thing you need to understand as a "day trader" is that day trading is not everyday trading.
Just like daily bias isn't everyday bias. You only want to trade when daily bias is CLEAR.
Just like daily bias isn't everyday bias. You only want to trade when daily bias is CLEAR.
Firstly our goal is to determine the weekly candle expansion.
What does that mean?
We need to determine in which direction the weekly candle is going to expand which will give us a rough directional bias for the current trading week.
What does that mean?
We need to determine in which direction the weekly candle is going to expand which will give us a rough directional bias for the current trading week.
'The only thing I am trying to predict is the direction of the weekly candle'
-Michael J. Huddleston / Inner Circle Trader
-Michael J. Huddleston / Inner Circle Trader
So once again at the beginning of the week, you should determine in which direction we will be going.
This is one of many reasons why we skip Monday
This is one of many reasons why we skip Monday
Our daily chart gives us hints in which direction we will be moving and how the price is going to be manipulated we just need to understand them and act on them.
So how do we know in which direction we will be going during the week?
First, we start out by marking our
Buyside Liquidity
AND
Sellside Liquidity
What we need to ask ourselves well which one are we likely to take out first?
Buyside Liquidity
AND
Sellside Liquidity
What we need to ask ourselves well which one are we likely to take out first?
To answer that question we need to form a narrative or ask ourselves HOW.
How will we take Buyside/Sellside?
We need to look at a few things.
IPDA 20-40-60 Day Lookback
Current Dealing Range
PD Arrays
Orderflow
Internal/External range liquidity
How are News Laid Out This Week
How will we take Buyside/Sellside?
We need to look at a few things.
IPDA 20-40-60 Day Lookback
Current Dealing Range
PD Arrays
Orderflow
Internal/External range liquidity
How are News Laid Out This Week
After covering each of these steps we will have a definitive answer for our daily bias.
The only thing that left is to wait for the WEEKLY PROFILE to be revealed to us and trade alongside it.
The only thing that left is to wait for the WEEKLY PROFILE to be revealed to us and trade alongside it.
End of thread
If you enjoyed this thread and want to learn more about each topic mentioned drop a like and a retweet
The chapters I will cover in the future are:
If you enjoyed this thread and want to learn more about each topic mentioned drop a like and a retweet
The chapters I will cover in the future are:
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