Hi kensington
Yes it does acheive a lot, otherwise the practice wouldn't be carried out.
It's like "fake news" it's designed to catch out the unknowing into thinking this is what's going to unfold. ie There's new people joining the markets everyday that are on a learning curve.
It's no different than starting a run on the stock during the day on no news. People see some action and rush in to see what's happening. They buy, the sellers in the know sell, because they have seen this gameplay unfold before, and then they buy back when it reverses. So you have a investor caught up in the fomo and a double winner ...... selling for a profit & buying back in cheaper in the future.
Everything in the markets is designed to transfer wealth from the unknowing to the knowing. It's not nice, but that's the way it is. Someone has to loose, so another can win. You just have to figure out a strategies, so your not the one who's going to loose.
Cheers
Tradealot
PS
@NBZ, No justification necessary on profit taking. That's what were here for, to make money. Well done!
