Bias-parameters
Morning bias
Trying to avoid becoming “the late” bias-up.
The reaper is bearish.
[pay]The 1287.75 bias-up signal was touched within 3 minutes of the 1:20 timing window. This invoked the 10-minute grace period. Then 1287.75 was recovered through 1:30 to trigger bias-up.
Ranging since then has probed under 1287.75 by 2 ticks, bouncing 2 points back up to 1289.50.
What is remarkable is that this morning’s 1287.75 bias-up target is still being tested two timing windows later. Probing fresh highs is “distribution” – more plateauing – if 1287.75 won’t let go.
Bias-up meanwhile does get a benefit of the doubt, until proved otherwise, making 1287.75 sort of a stop to being long. Triggering the 1287.75 stop coming out of the bias environment after 2:30 would be likely to retrace at least all of today’s rally.
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