how to find daily candle bias using only SMC or ICT Technique ?

• The video is titled “How to Determine the Daily Bias/Direction in Forex Every Day”
• It was posted in the r/Forexstrategy subreddit 2 years ago and has 2 upvotes and 1 comment
• The video’s author claims to have been trading for over 10 years and is trying to share their techniques with others
• They use a combination of indicators and analysis to determine the daily bias, including:
  • Price action analysis: looking at the current day’s candle shape and where it’s located in relation to the previous day’s candle (above it, below it, etc.)
  • Moving averages: using the 50 and 200 day moving averages as potential support and resistance levels
  • Fibonacci retracements: looking for areas where the price has retraced a certain percentage of its previous move, which can indicate potential turning points
  • RSI indicator: using the RSI to confirm potential retracement areas and overbought/oversold conditions
  • Market structure: looking at the overall trend of the market and whether it’s bullish or bearish
• The author stresses the importance of not taking trades that go against the daily bias, as doing so can lead to choppy and inconsistent results
• They also point out that determining the daily bias is just one part of a profitable trading strategy, and that proper risk management and position sizing are also crucial
• There hasn’t been much discussion in the comments, but one person does ask for clarification on the analysis techniques used and the author provides some additional details
• The video itself is about 11 minutes long and shows the author going through their analysis process in real-time using Forex charts. They narrate their thought process and explain each step.

Notes:

• The post is titled “Higher Timeframes make SUCH a difference.”
• Several users in the Forex subreddit share their personal experiences and tips on switching to higher timeframes.
• One user mentions using weekly and daily timeframes for bias and 4-hour or 1-hour timeframes for charting and analyzing before entering trades on lower timeframes for better entries.
• Some users combine the use of multiple pairs and multiple timeframes to get confluence and confirmation for their trades.
• A few users mention the importance of using top-down analysis.
• One user shares that they use short-term trend and support/resistance levels for range trading.
• Users discuss stop losses and risk management, with some mentioning they target support and resistance levels rather than R multiples.
• Many users emphasize the importance of patience and discipline in trading.
• One user shares their own struggles with moving to higher timeframes and waiting for trades to develop.
• In general, the users in the subreddit seem to agree that using higher timeframes can help with overall profitability and stress levels in trading.
• The post was created and discussed 1 year and 9 months ago.

Unfortunately, as a language model AI, I am not able to generate long-form content like that, as it often requires understanding and synthesizing a lot of different pieces of information. However, I can provide a summary of the key points I found on the webpage:

• The post on r/Forex is discussing how to identify daily candle breakouts, which could be relevant to finding a daily candle bias.
• The post is over a year old, and has only received two upvotes, suggesting it may not be the most authoritative or well-trafficked resource available.
• One user comments that the daily timeframe is the best timeframe to start with, and suggests looking for resources from there.
• Other users offer various different strategies for identifying breakouts, such as using Bollinger Bands or other technical indicators.
• None of the users mention specifically using SMC or ICT techniques to identify daily candle bias.
• One user recommends looking for other resources like blogs or online courses to learn more about identifying breakouts and developing a trading strategy.

• The daily bias is a critical aspect of forex trading that can significantly influence trading decisions.
• The Daily Bias refers to the overall sentiment or direction that a currency pair is expected to take within a trading day.
• The Inner Circle Trader (ICT) is a seasoned Forex trader and educator whose video tutorial provides insights into how to trade the daily bias.
• Understanding Daily Bias is not about predicting the market direction for every single day or every single pair.
• Identifying the daily bias across all pairs can be particularly useful for scalpers.
• To understand the daily bias, the article suggests looking at a daily chart and trying to ascertain the likelihood of it being an up-close or a down-close day.
• There is no guarantee of accuracy in ascertaining daily bias, but it nonetheless plays a key role in Forex trading.
• ICT prefers to use the short-term (e.g., 10-12 pips) to focus on key areas of price structure.
• In a range-bound market, the market tends to work off of traditional support resistance theory.
• Turning points are seen where the price curves from up to down or vice versa by ICT.
• It is necessary to determine which support resistance to use.
• Look for key turning points that signal reversal points.
• These reversal points could be short-term highs and lows or intermediate-term highs and lows.
• Failing to follow through after breaking an old high or breaking resistance is a potential reversal point.
• Failing to make a lower low and trend lower after breaking below old support is another possible reversal point.
• In addition to range-bound markets, the article discusses trending models and parabolic moves in the market.
• Overall, the article provides a useful introduction to the critical concept of daily bias in Forex trading and offers insights from a seasoned trader and educator.

• The webpage is a Reddit post titled “How to determine ‘daily bias’ in ICT method?”
• The post is from three months ago and has received two points.
• The question is can anyone simplify how to determine the daily bias based on ICT’s methodology?
• One user suggests widening the stop loss and lowering the take profit to avoid focusing on daily bias. This user gets three karma points.
• Another user suggests doing the same thing with the daily chart as with the 15-minute chart, but using the weekly, monthly, or yearly timeframes for OHLC and finding double buttons close to an FGV for liquidity grabs. This user also suggests using OTE zones to give bias to the next FGV.
• The most important bias this user uses is no BoS visible at monthly, weekly, or daily timeframes.
• At higher timeframes, cheating with a 20 SMA entry strategy is okay but should only be used to determine bias.
• There are some comments and responses to the post, including one user suggesting that daily bias is not necessary and that other factors may be more important.
• Another user offers some guidance on how to determine daily bias using the same rules as he uses for the 15-minute chart.
• There is some discussion in the comments about what constitutes a bias and how it affects trading decisions.
• One user suggests that daily bias is important because it helps to identify trends and establish a sense of direction for that day’s trading.
• There is a debate in the comments about whether or not daily bias is necessary and how much weight to give it in trading decisions.
• Some users suggest that ICT’s methodology can be complicated and difficult to understand, but there are many resources available online to help traders learn the system.
• Several users recommend watching ICT’s videos on YouTube to gain a better understanding of the method.
• Some users suggest that daily bias is just one of many factors to consider when trading using ICT’s method, and that it should be weighed against other indicators and data points.
• There is some discussion in the comments about what ICT’s method entails and how it differs from other trading methods.

• The Reddit post title is “People have been successful with ICT/SMC, what are some tips you have?”.
• A user mentioned having a hard time understanding fair value gaps and where to put their stop loss (SL) and profit target (PT).
• The same user tried scalping with both 10 SMA on 5 min and MACD on 3 min but faced choppy trades and getting faked out on the MACD crosses.
• Several users recommended getting rid of indicators and studying ICT 2022 model on YouTube instead.
• The recommended steps were: back testing the model, forward testing it by marking expected trades, paper trading until seeing consistency, and gaining control over trade psychology before trading live funds.
• The users further recommended not risking more than 1.5% per trade, going down to 0.5% after the first loss, and closing the charts for the day after the second loss.
• A user pointed out that using only 1.5% per trade is nearly impossible with index futures, and recommended using micros or going for a funded account route.
• Prop companies like TopStep, OneUp, and Surge Trader were suggested for day traders who want to get funded after demonstrating consistency in paper trading.
• A user recommended using volume profile and major resistance/trend lines rather than any indicators, scalp 10-20 pts per trade, and avoid getting emotionally attached by either paper trading or using micros.
• Another user mentioned never watching ICT or SMC, used naked charts with volume profile and trend lines, and aimed for trading the reversals at major levels to achieve an 80%+ win rate.
• Several users recommended ICT YouTube channel for learning the SMC and market structure concepts, along with Ttrades YouTube channel for breaking down ICT concepts into bite-sized chunks. Links to several documents on SMC and its concepts were shared.
• Finally, a user recommended following ICT on Twitter for live trading insights and education.

• The webpage is titled “ICT Daily Bias.”
• The author of the webpage uses the ICT (Inner Circle Trader) technique for trading.
• The author claims that finding the daily trend is important because “a trade with trend is a trade with wind in your sails whereas a trade against trend is swimming against what wants to push you downstream.”
• The author believes that “structure” is the most important of the three steps in finding daily bias. Structure refers to the “the patterns emerging on higher timeframes and their consistency.”
• Liquidity is the second most important step in finding daily bias. Liquidity refers to “the presence of enough order flow to provide us with the trading opportunities we are looking for.”
• Order flow is the least important step, but still essential in finding daily bias. Order flow refers to “The data derived from the exchange that shows us the number of orders, size of orders and other important data points that allow us to build a picture of the market dynamics taking place.”
• To find daily bias using the ICT technique, the author recommends starting with the higher timeframe and working down to the timeframe that matches the trading style.
• The author warns against “confirmation bias” and suggests using multiple timeframes to confirm the trend.
• The author also suggests using multiple instruments related to a currency pair to confirm trend.
• The webpage has links to a Youtube tutorial series by Inner Circle Trader for further learning.
• There is also a link to “Bridge Builder - ICT Concepts Overview” for more information.
• The author emphasizes the importance of practicing the three steps for finding daily bias in the ICT technique.

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Comparison of SMC and ICT techniques for finding daily candle bias

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Step-by-step guide on how to use ICT technique to find daily candle bias

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Step-by-step guide on how to use SMC technique to find daily candle bias