Psychological Level: Price points in a market that hold significance due to their simplicity and ease of use.(Round Numbers)
Price has reached the psychological level 1.06000.
Price has pulled into this area and previously rejected. If price returns back to this area between the times of 8AM to 9PM, we look to enter a SELL position.
Thorough backtesting has shown, in between the times of 8AM and 9AM; approximately 40% of the time price will reverse at the current Psychological and return to the previous Psychological Level.