Last week's high and low are the levels swing traders watch most. This guide shows both ways to play them and which candle to enter on.
The previous week high (PWH) and previous week low (PWL) are the extremes of the last completed trading week. They work like the previous-day levels, but on a slower clock suited to swing and position traders.
Weekly extremes hold large clusters of stop orders and breakout orders. Price often wicks through them to collect those orders, then reverses (a sweep), or breaks them and keeps going after a retest (an accepted break).
Sweep: stop just beyond the sweep wick, target the opposite side of last week's range. Break: stop about 0.8 ATR behind the level, target one more weekly range beyond it. Skip trades under 2R.
PWL 1.0900, PWH 1.1100. A sweep to 1.0865 closes at 1.0915. Long entry 1.0915, stop 1.0855 (60 pips), target 1.1100 (185 pips) → reward:risk ≈ 3.1.
It uses weekly levels, so signals are rarer and moves are larger. It suits 4-hour and daily charts.
From real daily candles supplied by third-party data providers. If they cannot be reached, Forextity says so instead of estimating.
Choose this strategy in the Forextity scanner. It looks for the pattern on real candles, marks it on the chart, shows an example entry, stop, target and reward-to-risk, scores how many conditions are met, and lists the same steps with the same candle diagrams. You can also test it on your pair in the Strategy Backtester. High reward-to-risk strategies win less than half the time, so size every trade small and see the Stress Test.
See it on a live chart. Free, no sign-up.
Open the Strategy Scanner →Risk notice: educational content, not financial advice. Leveraged trading carries a high risk of loss. Read our Risk Disclaimer.
