Gold Spot / U.S. Dollar
Updated

Previous Day High/Low Reversal Strategy

105

Daily Range Identification: You establish the previous day's high and low as key levels.
Liquidity Sweep: You observe price action for a "liquidity run," where price breaks either the previous day's high or low, indicating potential stop-loss hunting.
Change of Character (ChoCh): Following the liquidity run, you look for a "change of character," signifying a shift in momentum and a potential reversal.
Fair Value Gap (FVG) Entry: You identify fair value gaps (price imbalances) to find precise entry points in the direction of the indicated reversal.
Target: Your profit target is the opposite extreme of the previous day's range (either the previous day's high or low).
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