Price makes two days of sideways moves, coming into the 20th of October 2022. If you follow our content, you know that the price moving in any direction less than 90% of the ADR (average daily range) is a sideways move. Also, two consecutive days of sideways moves leave us with trading an open bias.
In an open bias, we accept taking trades to both sides of the price. This means that we can take both long and short positions within specific trade parameters. The reason behind this logic is to leave ourselves the opportunity to catch a potential range border, as the price is less likely to break large ranges within sideways moves. So we try to take advantage of this by trading the upper and lower bounds of the range.