surprised nobody posted 50% fibo at 100 on USDJPY from where it has fallen 160 pips.
Anyway you answered your question yourself already, cause everybody uses them and thats the reason all SR stuff in trading works. The first 10-20 reaction you see on any SR (any tech tool used like tl's, previous high/lows, fibs, round numbers etc) is only cause people were watching the level and they had orders lined up there.
Why those people were watching those levels? Because everybody watches them!
Maddening no?
But its works and thats whats matters.
.
Anyway you answered your question yourself already, cause everybody uses them and thats the reason all SR stuff in trading works. The first 10-20 reaction you see on any SR (any tech tool used like tl's, previous high/lows, fibs, round numbers etc) is only cause people were watching the level and they had orders lined up there.
Why those people were watching those levels? Because everybody watches them!
Maddening no?
But its works and thats whats matters.
.