Previous day's Close, today's Open, High & Low-the 'golden indicator'... I truly believe there is more 'wealth' in these 4 numbers for any given stock or future then we know... for daytrading...study and note how the day's price interacts with these levels...much $$$ is to be made...comments on how you use these 4 key intraday noted levels...?
...makes it sound like it is an important thing. and ...is vague advice. But then. You're asking a question? I'm confused.
1) ?......in hindsight. 2) ?.....Unless you already have a copy of tomorrow's Wall Street Urinal or Investor's Daily.
It is hard to trade around today's high and low because we don't know where they'll be. Yesterday's close, yes it can act as support/ resistance. I mean for one it's a gap fill if we gap up that day. Sometimes you just slam through gap fills though so it's nothing close to a holy grail. You can put an order just one tick beneath a gap fill or right on it, and use a very tight stop. If it crashes through you lose a small amount, if it does bounce, you can shoot for more. Look to go long on a move through the day's open from below, or vice versa. Yesterday's high/ low? That really depends more on the setups of the daily chart, IMO.
it still gives you great support and resistance levels that the price for sure reacts to and bounces off and drives through...pullback set-ups are great as welll
Daily parameters are ok for the retired guy who likes to toy with the idea of real trading, but can't manage to escape the grip of buy and hold.