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A self-fulfilling prophecy is a prediction that comes true because someone believes or expects it to come true. This concept is very alive and well in trading. I actually refer to it quite often and it’s not always in a negative way. It has its place in certain situations, although it has a very “soft” use. It sort of gets into the concept of subjective versus objective. A few Podcasts back I talked about the difference between subjective and objective when it comes to trading in general, but this is specifically regarding what we look at for price action. This is more of a technical discussion in case you’re not all that in tune yet with technical analysis.
Here are the charts to follow:
Chart 1:
Chart 2:
Here’s a link to learn more:
https://disciplinedtradingstrategies.com/publicdownloads/The%20R%20Unit.pdf
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