# Session, Weekly and Monthly Levels > Session levels like the opening range, previous close and weekly open guide intraday and swing traders. Learn the key levels, how to mark them and trade them. Source: https://learn.tradelabsai.com/price-action/session-levels/ Track: Price Action · Level: Beginner · Updated: 2026-10-03 Publisher: TradeLabs AI (https://tradelabsai.com). Education, not financial advice. Cite as: TradeLabs Learn, "Session, Weekly and Monthly Levels", https://learn.tradelabsai.com/price-action/session-levels/ Session levels are prices defined by time: where a session opened, its high and low, where the previous session closed, and the equivalent levels for weeks and months. Because so many traders, algorithms and funds reference the same sessions, these levels often act as support, resistance or turning points, especially for intraday traders. ## The key session levels | Level | What it is | Who watches it | |---|---|---| | Opening price | The first price of the session | Day traders, many algorithms | | Opening range high and low | The high and low of the first 5, 15 or 30 minutes | Opening range breakout traders | | Previous close | Where the last session ended | Everyone; defines gaps | | Previous day high and low | Extremes of the last session | Day traders | | Overnight or pre-market high and low | Range of trading outside regular hours | Stock index and stock day traders | | Asian session range | High and low during Tokyo hours | Forex traders before London opens | | Weekly open, high and low | Levels for the week | Swing traders | | Monthly open, high and low | Levels for the month | Position traders, funds | ## The opening range The opening range is the high and low of the first part of the trading session. Many traders believe the first minutes reveal the day's early balance of buyers and sellers. **Example: An opening range breakout** A stock opens at $142.00. In the first 15 minutes it trades between $141.20 and $143.10. At 9:52 it breaks above $143.10 on rising volume. A trader buys at $143.20 with a stop at $142.10, near the middle of the range, risking $1.10, and targets the previous day's high at $145.80. If the breakout fails and price falls back into the range, the stop limits the loss. Opening range breakouts tend to work better on days with a catalyst and strong volume, and worse on quiet days when price chops around the range. See [Breakout Trading](https://learn.tradelabsai.com/strategies/breakout-trading/). ## Gaps and the previous close If a session opens far from the previous close, a **gap** forms. Traders watch whether the gap is filled, meaning price returns to the previous close, or extends further. The previous close is therefore a key reference on gap days. See [Price Gaps and How to Trade Them](https://learn.tradelabsai.com/chart-patterns/price-gaps-and-how-to-trade-them/). ## Forex session ranges In forex, traders often mark the Asian session's high and low. When London opens, price frequently breaks one side of that range, sometimes sweeping it first and reversing. The overlap of London and New York is the most active period. See [Forex Trading Sessions](https://learn.tradelabsai.com/forex/forex-trading-sessions/). ## Weekly and monthly opens Higher timeframe session levels matter for swing and position traders. Whether price is above or below the weekly or monthly open is used as a simple bias filter: buyers are in control for that period if price holds above the open. Monthly and quarterly levels also matter because funds rebalance and report on those dates. ## VWAP as a session level The volume weighted average price resets each session and acts as a dynamic session benchmark. Many institutions measure execution against it, and intraday traders treat price above VWAP as a bullish context and below it as bearish. See [VWAP](https://learn.tradelabsai.com/volume/vwap/). ## How to use session levels 1. **Mark them before the session:** previous close, previous high and low, overnight range. 2. **Watch the open:** note the opening range after your chosen number of minutes. 3. **Trade reactions or breaks** at these levels, with stops beyond them. 4. **Avoid entries in the middle** of the previous day's range unless your plan calls for it. ## Common mistakes - **Using too many session levels,** so every price is near one. - **Trading the opening range on quiet days** without a catalyst. - **Ignoring time zones:** session definitions must match the exchange or market you trade. Another formula based set of daily levels comes from [Pivot Points](https://learn.tradelabsai.com/indicators/pivot-points/), calculated from the previous session's high, low and close. ## Frequently asked questions ### What is the opening range in trading? The high and low price of the first few minutes of a session, often 5, 15 or 30 minutes, used as a reference for breakout and reversal trades. ### Why does the previous close matter? It defines whether the market gapped up or down and is often a magnet or turning point when price returns to it. ### Do session levels work in crypto? Crypto trades continuously, but many traders still mark daily and weekly opens at midnight UTC and session ranges for Asian, European and US hours. Next, learn why round numbers matter in [Psychological Levels](https://learn.tradelabsai.com/price-action/psychological-levels/). ## Continue learning - Next lesson: [Psychological Levels](https://learn.tradelabsai.com/price-action/psychological-levels/) - Previous lesson: [Previous Highs and Lows](https://learn.tradelabsai.com/price-action/previous-highs-and-lows/) - Related: [Previous Highs and Lows](https://learn.tradelabsai.com/price-action/previous-highs-and-lows/): Previous day, week and swing highs and lows are key reference levels. Learn why price is drawn to them, how stops cluster there and how to trade reactions. - Related: [Trading Sessions](https://learn.tradelabsai.com/markets/trading-sessions/): Markets have sessions with different liquidity and volatility. Learn stock market hours, extended hours, the forex sessions and how timing affects your trades. - Related: [Support and Resistance](https://learn.tradelabsai.com/price-action/support-and-resistance/): Support is where buying tends to stop a fall; resistance is where selling tends to stop a rise. Learn to draw levels, judge their strength and trade them well. - Related: [VWAP](https://learn.tradelabsai.com/volume/vwap/): VWAP is the average price weighted by volume since the session started. Learn the formula, why institutions use it, VWAP bands and intraday trading strategies. - Related: [Opening and Closing Auctions](https://learn.tradelabsai.com/market-structure/opening-and-closing-auctions/): Exchanges open and close with auctions that match orders at one price. Learn how auctions work, imbalance data, why the close is so busy and how traders use it.