Previous Day Levels
Before I begin my trading day, I prep and draw lines against the levels from the previous days high and previous days low. When the market opens, I watch it when it goes above the highs to go long and short when it breaks the lows. You can also see the previous days highs as your resistance and previous days low as your support. If it holds support, you are either looking at a range day. Taking a long over support might be a good trade and watching to retest the highs from the previous day or more if market is strong. Same concept can be applied to resistance. If it fails to go above resistance, you can take a short thinking that it might retest the previous days lows or more. Thank you.
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