Is market action based on predetermined levels?

Im curious to see what some of the traders on this forum think about the forex market. Here is my question;

Is market action based entirely off of pre determined price levels?

In a way yes and in a way no. We (traders) make up the market and our actions cause it to move and behave as it does - therefore to the extent that we use predetermined levels to enter or exit, the market will be "based" on those predetermined levels. Of course since everyone enters for their own various reasons, not all of which are speculative or pay any mind to most other people's conceived levels, the market cannot be said to operate with any reliability off of predetermined levels.

The levels are not hard... so no.

But the market, for the most part, is made up by pros who know how to spot levels, and they trade their resistance and failure accordingly.

A level is just an obstacle. Sometimes levels hold; sometimes they don't.

You can say that market action is based entirely on supply and demand within the market...With all due respect to pre-determined price levels, supply and demand will dominate....

I will agree that sometimes pre-determined levels can have an effect of supply and demand, however, this is not the only factor, other factors also come into play to change the supply and demand situation....


Regards,

Nader