Find Key Levels & A Weekly Bias Using the Opening Week Range Report on edgeful | Swing Trading

Monday and Tuesday's New York session high and low set the tone for the rest of the week on ES. In this video I break down the Opening Week Range report, one of the best reports on edgeful for swing traders holding a trade for a few days, and just as useful for day traders setting levels and a weekly bias. The opening week range is the highest high and lowest low of the New York session on Monday and Tuesday. Think of it like the IB, but for the first two days of the week instead of the first hour. The report then tracks what price does from Wednesday through Friday. On ES over the last year, 44% of weeks only broke the high and 34% only broke the low, so 78% broke exactly one side. Only 8% broke both sides, and 13% stayed inside the range. This week the low broke on Wednesday and again on Thursday. With a double break happening only 8% of the time, the data says not to start targeting the opening week range high. The bias for the rest of the week leans short: continuation lower or consolidation. I also walk through how options sellers and intraday traders can frame the week once one side breaks. Then I go to the By Levels sub report for targets. This week's opening week range was 74 points. In the last year, on weeks that broke the downside, price reached the -0.1 extension 83% of the time and the -0.5 extension almost 70% of the time, while the deepest level I checked was only reached 40% of the time. That makes the -0.5 extension a data-backed target, instead of guessing at a round number like 7600. chapters: 0:00 the best edgeful report for swing traders 0:57 how the opening week range is built 1:41 what the report measures: wednesday to friday 2:23 the stats: 78% single break, 8% double break 2:50 setting your weekly bias 3:50 options sellers + day traders 5:04 by levels: extension targets after a breakdown 7:14 recap: bias + targets for the week have questions? email [email protected] get started: https://www.edgeful.com/?utm_source=youtube&utm_medium=organic&utm_campaign=2026 Disclosure: Trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. this information is not trading advice and should be used for educational purposes only. futures, options, and forex are leveraged instruments, and carry a high degree of risk. past results are not indicative of future returns. your use of the trading observations is entirely at your own risk and it is your sole responsibility to evaluate the accuracy, completeness, and usefulness of the information. futures and forex trading contains substantial risk and is not for every investor. an investor could potentially lose all or more than the initial investment. risk capital is money that can be lost without jeopardising ones' financial security or life style. only risk capital should be used for trading and only those with sufficient risk capital should consider trading. past performance is not necessarily indicative of future results.