If you look at any price chart and you will notice that price does not move in a straight line. It does not move up or down vertically. It moves in waves and these waves are called market swing.
In a bull market, price rises with a series of up and downswings. Naturally, the upswings generally exceed the downswings in length. The reverse is true in a bear market. By observing market swings, you will be able to notice the structure of the market and get clues on whether the market will move up or down. And following market swings must be your first step to read the market bias.
Another way to look at market swings is to think of them as a higher time frame perspective. Each swing is equivalent to a bar in a higher time frame. This is why some traders use a higher time frame to evaluate market bias. There are two challenges with the higher time frame approach.
First, the higher time frame is usually chosen arbitrarily. Common choices are multiples of three and five. For instance, if your trading time frame is 1-minute, using a multiple of five, you will use the 5-minute chart for determining the market bias.
However, there is often no sound basis for the choice of the higher time frame. Next, by using the higher time frame, you must split your attention between two time frames. While some traders might find that manageable, some try to keep trading as simple as possible and focus on one chart only. By analyzing market swings, you will be able to factor in the price action of a higher order into your analysis without a second chart showing a higher time frame.
If you understand how the swings are marked and you learn to identify market swings clearly, you will confidently state the current direction of the market wave at any point in time. This is an important first step to uncovering the market bias.