Here is an example of how it is important to check the daily Bias on DXY if you are trading NQ or ES futures. DXY is predominantly inverse the futures. Knowing the daily bias and tracking DXY can give additional confluence to your bias/ direction for NQ & ES.
You can easily determine Bias for DXY and futures with the previous tutorial/ Tip I posted.
What happens when midnight is in between current day open and previous day low/high? Is bias unclear then?
The_Lioness
⋅
@imallen, For Bias, we only use the CURRENT Day's Open and H or L. on days where the open doesn't match, we need to look at other indices and how the week has progressed, how far it's moved up or down, did it take a Previous day H or L? et. hope that helps!
imallen
⋅
Thanks!
The_Lioness
⋅
@imallen, you're welcome! also, if the DXY and NQ are not inverse each other, that's a good sign to stay out until a later time or day