quick S/R question please help

[adz]

Hey all

I would just like to know if S/R levels need to be exact to be valid. For example if a candle/bar makes a low of say 5500 then makes another low of 5500.3 before retracting is that a valid support level or do both lows have to be exactly 5500 to count? and is it ay different when trading with SB co's or the real market?

I ask because brakeouts from exact S/R levels seem to follow through most of the time ( for me anyway) where as breakouts from non exact S/R levels dont always. However it's because they sometimes do that has made me ask.

cheers:?:

 

[Chorlton]

Hey all

I would just like to know if S/R levels need to be exact to be valid. For example if a candle/bar makes a low of say 5500 then makes another low of 5500.3 before retracting is that a valid support level or do both lows have to be exactly 5500 to count? and is it ay different when trading with SB co's or the real market?

I ask because brakeouts from exact S/R levels seem to follow through most of the time ( for me anyway) where as breakouts from non exact S/R levels dont always. However it's because they sometimes do that has made me ask.

cheers:?:

A "whole" number can have a "psychological" importance to us Humans, so this is probably why this happens.

However, personally I wouldn't focus too heavily on only exact numbers. IMO You want to think of S/R in terms of bands/zones....

 

[adz]

A "whole" number can have a "psychological" importance to us Humans, so this is probably why this happens.

However, personally I wouldn't focus too heavily on only exact numbers. IMO You want to think of S/R in terms of bands/zones....

Thanks ..

I would agree with you, however i used whole numbers in my example not giving it much thought. I may have used 5644.3 and 5644.8 ?