FYI: A while ago Brett Steenbargar conducted a seminar for traders interested in trading psychology and decided to attempt an informal experiment. I printed out a chart of a past period in the stock market and asked participants to predict the future direction of the market based solely upon the chart patterns they perceived. Half of the group received a chart in which the most recent bar was an up bar; the other half received a chart in which the most recent bar was one in which the market declined. As I expected, traders were significantly more likely to anticipate a rising market when the last bar was up than when it was down.
Regards,
Ted
http://www.forbes.com/sites/brettsteenbarger/2016/02/28/the-deadly-trading-bias-affecting-stock-market-traders/print/
