The behavior as one can see is one way directional UP or DOWN and at some point it is trading side-way.
Whichever direction or way the price moves, there will be 1001 stories or rationale or explanations.
What is obvious price trend a certain direction for a period of time succeeded by a different direction and it alternate among the 3 different directions.
Why does the price goes UP? Simply because the UP force is stronger than the DOWN force.
Why does the price goes DOWN? DOWN force is stronger than UP force.
Why does the price goes SIDE-WAY? neither UP or DOWN has the upper hand.
Of course if you interview 1001 people, it is more likely than you be given 1001001 reasons or maybe 1001 reasons for the reaction. No one is going to tell you which force is more powerful!!!!
As long as stronger force did not loose out to the weaker force, than it will continue. When the trend is euphoria, the price range (bar/candle) will be longer.
The basic Physics (Vector Mechanic/Electric Current) application for the above is Energy/Force flows in the path of least resistance with TWO conditions
1) The chart cannot travel backward to the past (Right to Left)
2) The chart cannot go below X-axis value ZERO.
When the UP force is stronger than the DOWN force, the flow is UP since it is the path of least resistance!!!
However, you are going to hear and read from all sort of news ranging from insiders buying to mark to market price, bullish candles, etc. The truth is the price flows the path of least resistance and that is the easiest and laziest thing to do!!!
We are NOT expecting a perfect smooth surface (frictionless) but a rough surface with resistance/friction producing directional erratic movements due different forces fighting for control.
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