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Crowd Money: A Practical Guide to Macro Behavioural Technical Analysis by Eoin Treacy

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Chapter 12: Targets, Contrary Indicators, Roundophobia and Psychological Levels

What we will cover in this chapter

  • No one knows with certainty where the market is likely to trade tomorrow, next week, next month or next year.
  • We have no control over where the market is likely to trade, regardless of how strongly we feel about it.
  • Provided we accept these limitations we can gain clues as to potential moves by looking at how much confidence other people express in their forecasts.
  • This is generally a better indication of how they have invested their own money rather than where prices are most likely to go.
  • Roundophobia refers to the tendency of markets to at least pause in the region of round numbers. These areas represent psychological ...

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