DislikedHave you read the .pdf file from the first post in this thread? It will answer many of your questions.
Looks to me like .5500 was paid attention to by the market. This doesn't mean that price has to stop instantly and bounce off of that specific number. Remember, s/r is a range and not just set at one price.Ignored
Thank Big. Yes. I read through the summary pdf.
I am more convinced that .5500 and .5534 are two separated S/R than a single S/R zone, IMO. 34pip range seems a bit too large. And in Dec 08. .5500 and .5534 was treated as S/R separately on H1. I means it seems that there weren't good price action signify the .5500 this time.