The high price of a session is the highest price a stock, coin, currency pair, etc. a market traded for the session.
For example, let’s say stock XYZ opens at $100 at 9:30 AM, trades to $105 later in the session, and then ends the day at a lower price than $105. If this were to occur, the high of the session is $105.
The chart time-frame you’re looking at determines the high price of the corresponding time-frame. A weekly chart will display the high price of the week, while the monthly chart will display the high price of the month.
A 1-minute chart displays the highest price for the minute, and so forth.
The high price of the session is important, but can be deceptive.
The high price of a candlestick reflects the highest price at which demand (buying) exceeded supply (selling). Excluding prices closing at the high, selling pressure exceeded buying pressure at the high price of the session.
For prices to transcend the high of the session – demand must exceed supply at the higher price area.
Figure 1.1 High Price of a Session
Some day-traders look to enter short near an established high price for a session; the level often functions as resistance for the time-frame.
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