Bias-parameters
Morning bias
Afternoon bias
Morning bias
All biased-up and nowhere to go.
Suspicious bias-up signal clings life.
[pay]1512.00 had been touched before the 1509.25 bias-up signal triggered at 1:20. The reaction down from 1512.00 actually touched 1509.25 at 1:30, almost invalidating the signal.
The intervening hour has ranged sideways. First, 1512.00 was attacked to within 2 ticks, and then 1509.25 was probed by 2 ticks. Extending any further either way would have signaled trending underway.
Now the bias environment is lapsing, and 1509.25 is still being tested. Only testing it does not qualify for rejecting it. Any signal that is cleanly triggered can be rejected only cleanly.
That having been said, a break under 1508.75 would get a benefit of the doubt for intending to trend down under this morning’s lows. Otherwise, entering the final hour without yet breaking lower should be attracted up to the 1515.50 bias-up target.
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