outside day by close

Check out one of our founders explaining this report in the video below:

this report measures where prices close after an outside days forms — this includes days that reversed back into the previous session's range, AND the days that continued away from the previous session's range. this considers where ALL outside days close. lets check out es futures during ny session to see some examples :

as seen above, if there is a high chance for a close outside of the previous day then look for entries inside the previous days range and target outside the previous days range.

as seen above, if there is a high chance for a close inside the previous day then look for entries outside the previous days range and target inside the previous days range

why outside days matter:

outside days can provide valuable insights into market sentiment and potential price movements.

bullish outside day: indicates potential bullish momentum if the day closes above the previous high after touching it.

bearish outside day: indicates potential bearish momentum if the day closes below the previous low after touching it.

understanding how often these patterns close above or below the previous day's high or low helps in making informed trading decisions based on historical performance.