We can make structures/patterns out of price, and this is why I view price action as simply that: structural. Without retelling the stories of Pompeii, etc., we all know what happened. At one point in time, this is exactly the way things were. And then an violent earthquake hits, or a volcano erupts, catching everyone off-guard. Imagine if we knew nothing about what's underneath our own earth's surface. They could be driven by news, the actions of other participants, or anything else. These events are the work of different types of participants, behaving in many, many different ways. It is the last thing to occur in a long, drawn out decision-making process, most of which is reactionary to events. The final product of any market is price. “Surface level” is about as far as most people go, but at the surface level, we're really dealing with nothing more than a distortion of reality. Making money is the primary motive of any market.īecause of this, people quickly introduce a slew of descriptions which are usually nothing more than myopic. And while we want look at any market through lenses which allow us to view them in the most complex of forms, they are, at the end of the day, relatively simple mechanisms.įor something which, at its surface, seems so simple manages to consume extraordinary amount of time and effort because: Interpretations of any market are often nothing more than an extension of the past experiences (or lack of) of the observer himself. And while there are innumerable topics to discuss in this business, the more compelling ones tend to stem from a broader understanding of what we're interacting with in the first place. While it's obvious I have lost most of the blogging bug over time, I still enjoy getting things up here every rare once and a while.
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