Disliked{quote} Well, it's not about time period, it's all about how price react on that level previously, market open brings volume, it will have breakouts, some fake or short term and some follow trend or reverse trend. In my opinion price level are important, when price suddenly drop or rise, u should atleast have an idea when it will stop if u r going to ride it.Ignored
Study at least 1,000 intra-day charts on 28 currency pairs and you will understand what I mean.
It does not always work that way of course (just to keep us constantly confused...) but that's the general idea.