Bob Late yesterday evening, THE EXACT SAME THING HAPPENED, except this time the price even tried to establish itself there.
I think these repeated hits on very specific, strong levels really suggest that the AI is capable of modelling the trading probabilities of larger, more sophisticated market participants.
Honestly, if the market consisted ONLY of financial professionals and specialists, I think the charts would be MUCH CLEANER and MORE LOGICAL.
But price movements are complicated by the HUGE number of participants who have varying levels of knowledge and experience.
And this is where the AI seems to be operating in the spirit of the big players - probably the more fundamental ones, who move like a tank once they’ve chosen their direction.
Look at what’s happening right now: everyone is waiting for Trump’s announcement about diesel, and that uncertainty is literally weakening the EURO. The market is getting nervous.
But first of all, the factors related to this have already played out. And here’s something I’ve personally noticed.
The fundamental players have already made their choice, probably in favour of a stronger EURO. So sometimes the market gets left making noise around what ultimately ends up happening anyway.
There are plenty of nervous, inexperienced, panicking participants, and of course they create unjustified expectations and hopes 😀
Meanwhile, the bigger players may already be waiting for their move. That’s one way to explain it, at least 😀