[Forex View] What Are Magic Levels and Why Do They Matter?

There is no magic in trading but there are magic numbers or levels.What are magic numbers?This is a term I came up with to describe chart levels that not only can be significant technically but can have a psychological or emotional impact on trading.There are magic levels that can have an influence on day trading, such as those that end in 00, 20, 50, and 80 (e.g. 1.0300, 1.0320, 1.0350. 1.0380, 1.0400).One would have thought that given the way mindless algos can influence trading that psychological levels would lose significance.However, I have found the opposite. Magic numbers still matter.EURUSD 1.0350Take the recent E