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The midpoint of yesterday's range as a decision point for the next session

Most people mark the previous day high and low and stop there. I've found the midpoint of that range just as useful, mainly as a way to sort the day into two kinds early on.

If price opens the London session above yesterday's midpoint and holds there through the first hour, I treat the day as leaning bullish for intraday purposes. I look for buys on pullbacks toward the midpoint and I'm wary of shorts unless something clearly breaks. If it opens below and stays below, the reverse. If price keeps crossing the midpoint back and forth in the first hour, that usually means a rotational day, and I cut my expectations and my size.

It isn't magic and it doesn't predict much on its own. What it does is give me a reference that's less obvious than the high and low, so it's less likely to be the place everyone has their stops. It also helps on days when yesterday's range was huge. A trend day often leaves a midpoint that's a long way from both extremes, and price reacting at that midpoint can tell you whether the move is being accepted or faded.

I draw it automatically with the other daily levels so I don't skip it on busy mornings.

A detail that matters: whose day? If your broker's server closes the day at a different time from your charting platform, the high, low and midpoint will all be slightly different. For the midpoint that can shift the level by a few pips, which is enough to change whether price looks above or below it. I'd pick one definition, usually the New York close, and stick to it everywhere. Mixing them is how you end up with two midpoints on two screens and a lot of confusion about which one price is actually respecting.

I'd be curious whether anyone combines this with the previous week's midpoint. On days where the daily and weekly midpoints are close together, that area might act as a stronger pivot, and on days where they sit far apart, price has more room to travel between them. I haven't tested it in any structured way, so I'm not claiming anything. But it seems like a cheap thing to check in a journal by tagging whether each session respected one, both or neither, and seeing if the tags line up with the kind of day you got.