Try this one qui. The top is from 2007. These are rather large zones at 400+ pips, but it is a weekly. Look for long candles moving away from your zones.
Qui..IMO you can ignore all charts prior to about 1st quarte of 2009...IMO the distortion caused by sub prime crisis made charts worthless til the insanity started to subside beginning in early 2009. On the issue of upper or lower shadows thats where pennies and I may differ...I place a lot of weight on the entire move of the candle...have seen numerous times that one will find major long term support or resistance is the turning point causing a shadow to form that prior to close of candle would have been a huge maribozu candle...the candle retracing before it can close is reason for shadow so I consider it quite valid.Matter of fact I have used fibs both ways and found that excluding shadow excludes important information at times. BTW another thing about long upper/lower shadows is that the long shadow can be assumed to be a strong sell or buy by the banks and its the banks we are trying to finally trade with and break the curse of trading against them.I think we're getting there now as a board...we may put egg on the faces of all the books,articles and websites saying retail is almost ALWAYS on the wrong side of a trade!I can see it coming finally.
I didn't remember that part about fewer candles except for the fewer candles the better on a retest of the zone, not necessarily the formation of a zone. Seems like you need a certain number of candles to even be able to call it a zone initially. The guy in the Skype room that got me interested in zones a while back has certain criteria for zone formation and one of them has to do with a minimum number of candles in a zone. If I remember right, he looks for at least fifteen to twenty candles as a minimum qualifier for a zone on a fifteen minute chart.
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