Structure
The highest and lowest prices of the previous daily candle (PDH and PDL). Intraday traders watch them closely, so stops and orders cluster just beyond them.
A dip below the previous day's low that closes back above it is a sweep of that liquidity; the previous day's high is then a natural target. Which candle counts as "the day" depends on the chart — an index's cash session and a CFD's 24-hour session can give different levels.
Also called: pdh, pdl, previous day high, previous day low, yesterday’s high, yesterday’s low, yesterday's high, yesterday's low.
Taught in
Yesterday’s High and LowStrategy PlaybookWhy the previous day’s high and low are where stops collect, how a sweep of yesterday’s low sets up a buy on the 1H, the gap entry, the 1 : 3 risk math, and the two cases where you do nothing.
Related terms