Previous weeks range

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

This report shows you stats on how this week's price action relates to last week's high & low, based on where it opens related to last week's range. Now lets see some examples on how to use this report to create trade ideas.

If there is a high chance that price touches last weeks range high or low, then use the high and low as possible take profit areas. see the chart below. If there is a high chance of no touches of the high or low, then look for longs at the bottom of the range, and shorts at the top of the range.

If there is a high chance for a touch of the high and low, then look for shorts after the touch of the high, and look for longs after the touch of the low.

If there is a high chance for a close outside of the previous weeks range at fridays close, then look for longs after a break of the high with a target outside the range high and look for shorts after a break of the low with a target outside the range low.

Why does previous weeks range matter ?

The previous week's range looks at the highest and lowest prices in the previous week to gauge the next week's movement. breaking beyond these points — either above the high or below the low — can show strong momentum in that direction. This report determines whether the market is more likely to continue in the direction of the break or reverse, giving you an understanding of whether to expect continuation or reversals.