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balanced bars

I once mentioned that for a novice the most risk averse trading start is one of trading the closing session of the NY session

meaning the last 90 minutes of the trading day

part being that much of the required data one needs is provided through the first two sessions like



probability of day type

most news events out of the way

selection of beauty principles applied

and much more

One part that's especially helpful is that after the first two session a relationship has established on the daily chart between wick and body and with the stronger edge probability of a balanced bar outcome for the day (both wick sides being equal in size, the highest likelihood of day type and a good probability of price range where the day might ends is suggested. For PPT traders who are familiar with the concept of the daily call a much more significant edge is created to be incorporated into the daily call.

Likelihoods of balanced and non balanced daily bar outcomes in regards to the next bar following.

While this varies to the various trading instruments I highly recommend the reader to back and forward test these likelihoods for their favorite trading instruments to yet gain another edge that is elusive to the average market participant.

Today's balanced daily bar on Bitcoin:



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