I believe I read somewhere that support and resistance levels, as well as virtually all sorts of operations/points of interest tend to form around whole numbers, or relatively whole numbers (ie 1.234<1.230<1.200<1.000.) Shouldn’t support and resistance levels be measured by how close to a whole number they are? Do you think that many forex strategies ignore this aspect of trading?
One strategy could be trading a pair which includes the USD. Checking out other pairs with the USD, you could see how close those pairs were to a whole number resistance level. The closer they are to whole number resistance levels, the stronger the support will be.
How round/whole the number is. There is no precise way to measure it, but the more zeros after it, the more round it is. Also closeness to 5s and 7.5s are levels of support too, but not as much.
How close the fit is to that target. Does the price seem to hover tightly around the target number?
The strength of the resistance. This is the traditional way we have measured resistance. Has it been bouncing off of the resistance line for a while, or bucking the trend?