Disliked{quote} TerryDawe just trying to help out a little since Davit gets a ton of requests. Any level of support or resistance will have a zone around a pivot point , GENERALLY. Since you have been watching the UC , the S38 zone on a 30 minute chart has been between 1.4080 as a high , back to S30 of 1.4056. Thus , there is a 24 pip zone which has been created. Now , since PA moved up from 1.39 zone this morning, the S38 is actually a level of significant RESISTANCE as we speak. The current retracement which just happened proved it. As Mark Douglas would...Ignored
Mini S/R can be formed around daily open ADR High Low round numbers but major S/R are generally formed around the zone.
Regards
In trading, you have to be defensive and aggressive at the same time
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