Initial Balance
Initial balance in the futures is traditionally the first hour of trade after the opening bell. Even though markets are now virtually 24/7 they tend to follow a historical rhythm with an opening and closing that yields the busiest trading periods of the day. This first hour creates two very important references the IBHi and IBLo
European indices FESX, DAX 8 am to 9 am CET (Central Europe Time)
US equity indices ES, NQ, or YM 9:30 am till 10:30 am ET
Crude Oil 9 am to 10 am ET.
Gold 8:20 am to 9:20 am ET.