wrapping up a distribution I posted on this market ( the aust $ )2 weeks ago.
Well one thing is for sure the horozontal phase of the market has captured this data set.Our value price here is 9890. The mavs have converged 3 times and look like doing it again.Studues can not predict what will happen they are created from time past .When the mavs converge it is logical to assume that all time frame participants are drawn together.
The market won't move untill there is some outside influence to create an imbalance and a change in the market participants perception of value. No computer study has a direct line to the future.In that sense the process of orders commimg into the market is completly random.The one thing that is not random here is the nature of the market .It's horozontal building a distribution rejecting th highs and lows, in this phase of development , we can't tell in advance when a level will be rejected we only know that moves away from value see the price eventually return to it.
For the 250 odd 1 hr bars in this distribution 77 of them have done just that traded at the value price of 9890 (30%).Is it going to break up or down ??? I don't know I can only try to join in once the imbalance occours .