why I only use alma as my support and resistance
Blog,  Trading Psychology

Pygmalion Effect

Robert Rosenthal defined the Pygmalion effect as “the phenomenon whereby one person’s expectation for another person’s behavior comes to serve as a selffulfilling prophecy”.

Pygmalion Effect, after the mythical story of a Greek sculptor who created a statue of a woman so beautiful he fell in love with it. As a gift from the goddess Aphrodite, the statue came alive and became Pygmalion’s wife, turning hope and expectation into reality.

If lahat ng traders naniniwala sa support/resistance then mgkakatotoo nga ito. If lahat ng traders naniniwala sa fibo ret levels then aabang sila sa levels at doon bibili or mgbebenta making fibo ret levels a selffulfilling prophecy.

Here lies the problem. Aside sa moving averages na acts as dynamic support/resistance, lahat halos ng support/resistance are subjective. Ganun din ang FIBO. Ganun din ang Darvas box at iba pa.

Yung nakikita mo na or inaakala mo na support zone or level eh iba naman sa ibang traders.

Yung inaakala mong FIBO level kung saan mgbounce ay iba naman pgkaplot ng ibang traders.

The only support/resistance that make sense is yung dynamic kasi ALMA would always give you the same result as long as same ang time frame kasi its a mathematical equation/formula.

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