Previous Day Value Area Setup:
It is said that if the Daily Open is outside the PDVA, the Price Action returns into it and 2 30-Minute-Candles close inside, we have a 70% Chance that Price will hit the opposite Site of the PDVA;
eg: Daily Open is below the previous Days Value Area Low -> gives a Long Setup, 1. Target is then previous Days Point of Control, 2. Target is the previous Days Value Area high.
The Opposite is true for a Short Setup.
It is said that if the Daily Open is outside the PDVA, the Price Action returns into it and 2 30-Minute-Candles close inside, we have a 70% Chance that Price will hit the opposite Site of the PDVA;
eg: Daily Open is below the previous Days Value Area Low -> gives a Long Setup, 1. Target is then previous Days Point of Control, 2. Target is the previous Days Value Area high.
The Opposite is true for a Short Setup.