How can Psychological levels be detemined and how important is the level to intraday trade?
Just concentrate on Price Action Levels, Psychological levels as you call them are just offspring’s from price it’s self. They both mean the same thing and are discretionary decided by each different trader.
If there was a big reaction there once, i assume there might be something about that level everyone is watching. Zoom out gather your levels from higher tfs and see how they react throughout the week zoomed in.
Psychological levels can be put to check when the market sentiment is definitely defined on a daily basis.