My main SR levels are always Big Psycho Number (or Big Round Numbers), as I believe they are objective levels that big boys are watching (and using). In this instance I chose 1.35 to watch for a long trade because of the following reasons:
- there was a consolodation of 3 weeks below 1.35 folowed by a (possible) real demand bar
- the demand bar broke through the recent TL that hold the downtrend
- also broke the 20 EMA and closed above it.
So that's why I'm currently watching it, but if there will be a close below 1.35 then I will be a bear again.
Trading = a mirror to your human flaws. Fix them or be fixed.