1. TraderOne
  2. Sherlock Holmes
  3. Forex Trading Strategies and Systems
  4. Friday, 16 August 2019
  5.  Subscribe via email
Previous day high low is a Client Side VTL indicator that draws the last day’s high, low and today’s open on the chart. When day trading, the previous day’s high and low are important reference points or support resistance levels. In a bullish market price breaks above the previous day’s high early in the day and continue to trade above that level. In bear markets, price break below the previous day’s low early in the day and continue to trade below that level. Trading ranges form when price fails to break the previous day’s high or low successfully. This info alone can improve your trading results as this give you a clear vision of what is likely to happen today.
Breakout trading strategies work best when price is above or below yesterday’s range. Trend following strategies also work best in this situation. When price is inside yesterday range, counter trend strategies work better. Oscillators like RSI and Stochastics work best in this situation.

https://i.imgur.com/WHUoaQb.png
Attachments (1)
Comment
There are no comments made yet.


There are no replies made for this post yet.
Be one of the first to reply to this post!
 
     
 

Latest Spot Rate

 
21 October 2019
In 2018, the government deficit and debt of both the euro area (EA19) and the EU28 decreased in relative terms compared with 2017. In the euro area the government deficit to GDP ratio fell from 0.9% in 2017 to 0.5% in 2018, and in the EU28 from 1.0% ...
21 October 2019
European open - Brexit, gold, oil - MarketPulseMarketPulseHome/Commodities/Currency/FX/GBP/Indices/Market PulseShare 0Sterling slips on Brexit delayEuropean markets are a mixed bag at the start of trade on Monday as the Brexit saga drags on, weighin...
21 October 2019
It appears that since Pro-rogue One: A Star Wars Story maybe, the loss of trust between Parliamentary MP’s and the Prime Minister’s office has become an unbreachable chasm. MP Sir Oliver Letwin added an amendment to the Benn Act on Saturday preventin...
21 October 2019
 MPs delay deal voteThe pound was under pressure from the outset on Monday morning after British MP’s delayed a vote on Boris Johnson’s Brexit deal by introducing an amendment to the Benn Act which would prevent an “accidental” no-deal exit from Euro...
21 October 2019
Daily Markets Broadcast 2019-10-21 - MarketPulseMarketPulseHome/Daily Markets Broadcast/DAX/Indices/Market Pulse/Technical Analysis/Technical Analysis IndicesShare 0Daily Markets Broadcast2019-10-21Wall Street slides on growth concerns...
How It Works | About | Contact | Privacy Policy | Forex Marketing
© 2009 - 2019 Forex Forum. All Rights Reserved. Risk Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Past performance is not indicative of future results. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.