Weekly

"Weekly" is shorthand traders use for a price level calculated from the previous week's trading activity and then plotted on a chart as a reference point for the current week. Most often it refers to a weekly pivot point, but the same word gets used loosely for a weekly high, weekly low, or weekly open — so context matters when someone says "we're at the weekly."

The weekly pivot itself is typically calculated using a formula based on the prior week's high, low, and close (the same style of formula used for daily pivots, just applied to a weekly instead of a daily timeframe). That calculation produces a central pivot level, and often a set of support and resistance lines above and below it. These lines then sit on the chart as fixed reference points for the entire upcoming week, unlike a daily pivot which resets every day.

The nuance that trips people up is that "weekly" is a timeframe label, not a strategy. Knowing the weekly pivot or weekly high doesn't tell you what to do with it — it's simply a level that many traders watch, because enough other traders are also watching it that price sometimes reacts there. Confusing the label for a signal is a common beginner mistake.

It's also worth separating "the weekly" (a level) from "weekly options" or "weekly chart" — same word, different meaning depending on the sentence. In a chatroom, "weekly" almost always means the pivot-style level unless someone specifies otherwise.