Price is not respected, but pattern is respected. If you run a hamburger store, And you set the price like you know the price. You don't know SHIT. A dumb person would say he knows the price and price it @ $7.00 , and no customers will come . A smart person doesn't know the exact price, but he knows crowds, He will first set the price at FREE to get a huge crowd, then gradually jump the price $3, $4, $5 , until a manageable level of "crowd" where it satisfies his profit margin and workload from the CROWD. The price is only a byproduct of the crowd. The crowd is equivalent to a pattern. ------------ Things such as Pivots L3 @ 1300, and 200 MA Resistance @ 1500 , price will be supported @ 30.00 will immediatelly tell you the skill level of a trader. Low. If it is supported, it will be supported for one reason. The "reversal" pattern has formed, not because it hit 1500 and decided, oh, its time for me to go up. ------ All "tape readers" trade on patterns, they do not trade on PRICE. When they say they are reading the tape, it means they read the pattern of how price is reacting, They seen this pattern before, they act on it, regardless of where the price is. If its on an important price, GREAT, if not, they still act on it. ------ Christmas Present for dumbshits with reportedly high IQs like Jasson but end up with $10k in IB . The pattern of people with $10k in their trading account usually tells me, they weren't smart in the first place. Too much pride to admit they have little EXPERIENCE in making $$$, Too little logic to gain EXPERIENCE in making $$$.