Hey guys,
I have the idea that any reversal is a resistance or support line, are the zones just a general unspecified area around the lines?
Hi,
Any reversal cannot be a support or resistance zone. The reversal must be occur repetitively on the same support and resistance lines. There you can get the support and resistance zones. You can find out support and resistance zones on recent GBP/USD pair from my previous posting.
http://forums.babypips.com/candlesticks-chart-patterns-and-price-action/84337-trading-ranging-currency-pair-what-strategy-used-2.html
-Jim
How close do the peaks have to be in price to count as in the zone?
Nobody knows, cuz its highly subjective. Backtesting should help to determine correct conditions for trading on S/R levels.