How Does Overconfidence Bias Affects Ascending Triangle?
Introduction Overconfidence bias is a cognitive bias that affects people's confidence in their abilities. It is often cited as a factor behind why some people are more likely to take risks than others, and it also has a significant impact on decision-making in fields such as finance and business. In this article, we'll explore how overconfidence bias affects an ascending triangle pattern - one of the most commonly used technical trading indicators. Theoretical Framework There is a cognitive bias and overconfidence bias which is the tendency to overestimate one's own abilities and underestimate others'. This can lead to making incorrect decisions. Overconfidence bias can affect decision-making in a variety of ways, including when making choices between risks and rewards, in competitive situations, and when assessing one's own characteristics. One study found that individuals who scored higher on measures of overconfidence were more likely to choose a high-risk op