High Of Day (HOD)
Definition of 'High Of Day (HOD)'
The same security can have different HOD's depending on the trader's perspective. If a trader is looking at a symbol that has an RTH session as well as an Overnight Session then the HOD could be different to the HOD created by the 24-hour trading session.
The HOD and it's opposite, the Low Of Day (LOD) are important because these are the extremes of the market and being able to pre-determine and forecast either of these values will result in profitable targets or entry points. Being able to determine both LOD and HOD is extremely profitable as it would mean that your potential profit is the same as the range of the day.
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