"the powers that move price know where they intend to take it."
If the "powers" really do have power, they can take any of the TA support and resistance levels (e.g. 50DMA) and cause "fake" sentiment changes via brief violations of those levels to either get people to sell or buy to their own detriment. I wonder how many sold today when the 50DMA was violated. Now its back above that level.
Let's say everyday we generate 10 random numbers +/-10% from previous close. I suspect one of these would match quite closely with next day's high/low and closing prices.
Would be an interesting benchmark versus TA. Maybe someone has tried it?
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