Previous Week High (PWH)

The previous week high is the high of the last completed week. Swing and intraday traders use it as a larger cousin of PDH. A break of PWH says this week has gone outside last week's range to the upside. It is a weekly structure fact.

Use a weekly candle or the highest daily high of that week, and be consistent about whether the week ends Friday. Mark it on Monday and leave it. Do not slide it forward as this week makes new highs. This week's high is a different line.

Holding above PWH aligns the week with an upside break of last week's range. Pullbacks toward it are the throwback on a weekly scale.

A rejection at PWH keeps the market inside or under last week's extreme. It is resistance for this week until it breaks and holds.

Confusing PWH with the high of the current incomplete week.

A quiet week produces a PWH that is only a few points from the low, and the break means little. A wide week produces a PWH that may be far from where this week is trading.