Previous Week Low (PWL)

The previous week low is the low of the last completed week. Breaking it means this week has accepted a price below last week's range. Holding above it means the week has not taken that extreme out.

Mark it from the completed weekly candle before the new week starts. Pair it with PWH so the prior week is a box, not a single line you remember when it suits you.

A sweep under PWL that reclaims the level is a failed breakdown on a weekly scale. The stop belongs under the sweep, and the trade needs room because the level is a weekly one.

Acceptance under PWL is a weekly breakdown relative to the last week. Rallies back to it are the retest.

Using PWL as an intraday scalp level with a tiny stop. The level comes from a week of trade. Noise around it is larger than noise around a five-minute pivot.

Weekly levels lose relevance once this week has built its own range far away from them. Update your map on Friday instead of clinging to a distant PWL.