Is it a range?
Yes.
Range above and below support and resistance level can be used to absorb the randomness of the bounces of price in the chart.
46du114t1f:
Range above and below support and resistance level can be used to absorb the randomness of the bounces of price in the chart.
Maybe, but I meant something else.
We have used to look at the price movement in a graphic way, but every data set can be presented like that. Even like a bar chart.
So, we could find the technical analysis formations in many datasets except markets.
So, it is not about buyers/sellers thing...
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I think - yes. It even has support and resistance levels.
This graph is from dataset of coin tosses provided by mrluck. Tried to post these pics in his topic, but anyway I find his question interesting - if we can predict the future data based on previous data of stochastic processes(which he calls "game").
We can't predict the future data, but there is a probability this "range" tendency to continue.
Is this knowledge enough to win?
Maybe. Especially if we combine some number of independent tendencies.
Should we apply indicators to such a chart? I think - no.
Some opinions?