Using Previous Day Values for Bias: a thread 🧵
Luckshury@Luckshuryy
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Apr 23, 2025
~2 min read
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Using Previous Day Values for Bias:
a thread 🧵
a thread 🧵
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Previous day sweeps:
monitor above & below previous day for excess in:
- volume
- liquidations
- trapped traders in general
recognising a sweep above/below the previous day can help you get on the right side of a newly forming engulfing candle.
monitor above & below previous day for excess in:
- volume
- liquidations
- trapped traders in general
recognising a sweep above/below the previous day can help you get on the right side of a newly forming engulfing candle.
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Price vs. previous day:
where is current price in relation to previous day, is it above or below previous days highs/lows.
If it is above previous day for example, then monitor the strength of that trend above previous day's high.
When monitoring the trend check for:
- strength in relative volume (for continuation)
- aggressive OI increase, as if price reverses away from these positions could fuel for a large reversal back into pd values.
where is current price in relation to previous day, is it above or below previous days highs/lows.
If it is above previous day for example, then monitor the strength of that trend above previous day's high.
When monitoring the trend check for:
- strength in relative volume (for continuation)
- aggressive OI increase, as if price reverses away from these positions could fuel for a large reversal back into pd values.
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Wick fills:
Does previous day have a large wick either to the downside or the upside.
If yes, I look for that large wick to see at least a partial fill. Note, this can date back a few days, not just the previous day.
These large wick fills can act as magnets to price, allowing me to look for trades in the direction of the wick fill.
[works especially well when the market is aggressively trending]
example ↓
Does previous day have a large wick either to the downside or the upside.
If yes, I look for that large wick to see at least a partial fill. Note, this can date back a few days, not just the previous day.
These large wick fills can act as magnets to price, allowing me to look for trades in the direction of the wick fill.
[works especially well when the market is aggressively trending]
example ↓
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Clean pivots:
Zoom in on previous day's highs/lows to identify any weak pivots that can be revisited.
A weak pivot can be identified as a poor high/low on that day.
These are more common during weekend price action, particularly on Saturdays.
example ↓
Zoom in on previous day's highs/lows to identify any weak pivots that can be revisited.
A weak pivot can be identified as a poor high/low on that day.
These are more common during weekend price action, particularly on Saturdays.
example ↓
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Tools:
I use this key levels indicator by Leviathan to automatically mark out tonnes of previous day/week/month levels.
x.com/leviathancrypt…
I use this key levels indicator by Leviathan to automatically mark out tonnes of previous day/week/month levels.
x.com/leviathancrypt…
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Currently building @EntropiaTrading where we will be bringing a stats based edge to your trading - follow to keep up to date with details.
Free resources - check my pinned post:
- Youtube
- Newsletter
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likes/reposts on the original post are appreciated.
Free resources - check my pinned post:
- Youtube
- Newsletter
- Free Exocharts
likes/reposts on the original post are appreciated.