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Set-up #10: PHOD / PLOD

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Summary:

The most active price-action occurs around the highs and lows of the previous
day’s trading session.

In other words, we are looking for trading opportunities around the PHOD and
PLOD.

Furthermore, we can use the previous WEEK worth of PHOD and PLOD.

 PLOD = Yesturday’s LOD

 PHOD = Yesturday’s HOD
 PPHOD = HOD from 2 days ago
 PPLOD = LOD from 2 days ago.

Up to 5 of the previous day’s for the best trading opportunities.

How to find them:

Technical Indicators:

 JJ_MajorSwing:
o Marks the PHOD / PLOD
o Marks the previous 5 days
o Shaded the areas between
 PriorDayOHLC

How to use them:

InsideOut Set-up: looking for a price-reversal at the PHOD to sell short down to
the PLOD, or a price-reversal at the PLOD to buy long up to the PHOD.
Breakout set-up: when we break to new higher-highs above the PHOD and we
keep moving higher. We will buy long with pullbacks using the entry trigger
indicator.

Or if we get new lower-lows below the PLOD and price keeps moving lower we
will sell retracements using the entry trigger indicator to get short.

Don’t forget these:

- The first time we test these levels we get the high-percentage-trades

- After 3 times of testing these levels we need to sit-on-hands
- A failure at the PHOD is an easy selling opportunity
- A failure at the PLOD is an easy buying opportunity
- Use the Electronic Trading Hours (ETH Session Template / Data Series) to
define the PHOD and PLOD
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