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Initial Balance
Source: https://fxcodebase.com/code/viewtopic.php?f=17&t=73109
Forum: 17 · Topic 73109 · 1 post(s)
Initial Balance
Apprentice · Thu Jan 05, 2023 5:16 am
The price range resulting from the market’s trade during the first two 30 minute periods of the regular trading hours session.
When the initial balance is relatively narrow, you should expect that it will be “knocked over” at some point in the session and price will extend out of the initial balance. This is called “range extension”. When the balance is wide, then look for the initial balance range to possibly be the range for the entire session
It this example est time zone was used.