DislikedHoho. 1,28 sure is. But I suggest you try to switch to monthly chart, have a look at 2008 drop, where it finished, and then tell me again ,266x zone is invalid for longer term S/D discussion. This zone held monthly moves many times since 2008 and in fact I just showed you in the chart above, it worked as S/R three times during last midcycle.
TIgnored
Better see it as a zone with Plus Minus 200 atleast, in that case my point is better