Psychological Quarter Resistance Levels 1.05250 and 1.06500
Psychological Level: Price points in a market that hold significance due to their simplicity and ease of use.(Round Numbers)
Price has reached the psychological level 1.06500. Price has pulled into this area and previously rejected.
If price returns back to this area between the times of 8AM to 9PM, we look to enter a BUY position.
Thorough backtesting has shown, in between the times of 8AM and 9AM; approximately 40% of the time price will reverse at the current Psychological and return to the previous Psychological Level.
Price has reached the psychological level 1.06500. Price has pulled into this area and previously rejected.
If price returns back to this area between the times of 8AM to 9PM, we look to enter a BUY position.
Thorough backtesting has shown, in between the times of 8AM and 9AM; approximately 40% of the time price will reverse at the current Psychological and return to the previous Psychological Level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.