what is daily bias in trading forex from the perspective of an ICT (inner circle trader) Youtuber?

According to an ICT (inner circle trader) YouTuber, "daily bias" in forex trading describes the propensity for a currency pair to move in the same general direction over a day. Market mood, economic developments, and other variables that can alter a currency's value frequently have an impact on this direction.

An ICT YouTuber may base their trading choices on their knowledge of daily bias. For instance, they might change their transactions if they see that a currency pair tends to move in one direction during the European trading session and another during the US trading session.

Daily bias can be used by an ICT Youtuber to spot prospective trading opportunities and forecast price inclinations. Additionally, they could use technical analysis and other resources to support or refute their theories.

It's crucial to remember that market conditions can change quickly and that daily bias is not a guarantee of future price movements. It's crucial to have a risk management technique while making trading decisions rather than relying entirely on daily prejudice

The use of any trading method or tool entails risk, therefore it's crucial to conduct your research and analysis before making any decisions. This includes avoiding relying only on YouTubers' opinions, even if they are ICTs. Technical and fundamental analysis may be combined by an ICT Youtuber to find daily bias in forex trading. To find patterns and trends that can predict future price movements, technical analysts look at charts and historical price data. Moving averages, trend lines, and other indicators can be used by an ICT Youtuber to determine the daily bias of a currency pair.

On the other hand, fundamental analysis looks at the political and economic issues that can influence the value of a currency. This technique can be used by an ICT Youtuber to find events that can affect a currency pair's daily bias, including interest rate decisions, GDP reports, and political developments.

Using the EUR/USD currency pair as an illustration, an ICT Youtuber trading the pair might see that it tends to have a bullish bias during the European trading session and a bearish tilt during the US trading session. They can use this information to decide when to enter and exit trades and to appropriately set stop-loss and take-profit levels.

The market environment can change quickly, therefore it's crucial to remember that daily bias is not a guarantee of future price movements. Bots and order blocks can have an impact on the market, and a currency pair's direction of movement is not certain to continue. An ICT Youtuber should therefore employ daily bias in conjunction with other types of analysis and risk management techniques.

Keeping in mind that forex trading entails a significant level of risk, it is crucial to completely comprehend the market, the currency pair you are dealing with, and any associated hazards before entering any trades. If you don't have a thorough understanding of the industry, it's also crucial to seek professional advice.

To recognize and trade based on daily bias in forex trading, an ICT Youtuber may employ a variety of tactics. To spot patterns and trends in the market and utilize this knowledge to forecast future price movements, they may combine technical and fundamental analysis.

For instance, to determine the direction of a currency pair's daily bias, an ICT Youtuber would utilize technical indicators such as moving averages, trend lines, and support and resistance levels. Additionally, they could employ chart patterns like head and shoulders or double tops to support or refute their theories.

Additionally, an ICT Youtuber might employ basic research to pinpoint occasions like interest rate decisions, GDP reports, and political developments that can affect a currency pair's daily bias. A country's currency may increase if the central bank boosts interest rates, for instance, and an ICT Youtuber may use that knowledge to make a trade.

In addition, an ICT Youtuber can determine the daily bias of a currency pair by looking at market sentiment and order flow data. They might look for substantial positions held by significant market participants using tools like the Commitment of Traders (COT) report and the Order Flow Index (OFI), which can give them a sense of the mood of the market and the bias's direction.

In conclusion, an ICT Youtuber may employ a range of techniques, such as technical analysis, fundamental analysis, market sentiment analysis, and order flow analysis, to recognize and trade based on daily bias in forex trading.

The daily bias should not be seen as a guarantee of future price movements, thus it's crucial to apply risk management techniques and be aware of the dangers of forex trading. Additionally, keep in mind that no plan is a failsafe, so you must conduct your investigation and analysis before making any decisions.

As an ICT Youtuber, you should be aware that market conditions can change quickly and that daily bias is not a guarantee of future price movements. To identify and trade based on daily bias in forex trading, a mix of tactics and tools must be used.

Combining technical and fundamental research to find patterns and trends in the market is one tactic an ICT Youtuber may employ. To find patterns and trends that can predict future price movements, technical analysts look at charts and historical price data. Moving averages, trend lines, and other indicators can be used by an ICT Youtuber to determine the daily bias of a currency pair. On the other hand, fundamental analysis looks at the political and economic issues that can influence the value of a currency. This technique can be used by an ICT Youtuber to find events that can affect a currency pair's daily bias, including interest rate decisions, GDP reports, and political developments. Using the EUR/USD currency pair as an illustration, an ICT Youtuber trading the pair might see that it tends to have a bullish bias during the European trading session and a bearish tilt during the US trading session.

To determine the direction of a currency pair's daily bias, an ICT Youtuber may also employ market sentiment and order flow analysis. They might look for substantial positions held by significant market participants using tools like the Commitment of Traders (COT) report and the Order Flow Index (OFI), which can give them a sense of the mood of the market and the bias's direction.

A variety of additional tools and techniques, including news and event-based trading, which involves trading, are also used by ICT Youtubers.