Last week's extremes as a map for the current week

[FXS London Scalper]

Many traders mark the previous week's high and low as reference levels for the current week. The idea is simple: these levels reflect where the market found buyers and sellers recently, and they are widely watched.

A few ways to use them: as targets for trades opened midweek, as breakout triggers, or as areas to fade if price tests them and fails. Each use implies a different hypothesis that can be tested.

A method: over a year, record how often price trades beyond the previous week's high or low during the current week, and what happened after the first touch. If breaks are common, fading them is risky. If price frequently returns into the range, a fade may have merit.

Combining these levels with session timing can sharpen the picture. A test of last week's high during the Asian session may behave differently from one during London.

Which weekly levels do you mark at the start of each week?