When it comes to creating bands, if you just shout 'high sell low buy', it has almost no value because everyone knows to sell high and buy low. The real question is when is considered high and when is considered low? On the other hand, if we only focus on fundamentals, regardless of market sentiment and valuation changes, we still have no value. Investing not only earns money for business growth, but also for changes in market expectations. The essence of doing bands is not to predict every high and low point, but to trade the positive and negative premiums of market sentiment. When the most timid people start to become bold, the most cautious people start to chase after the market, people who don't usually pay attention to the market also start FOMO, and even social media is filled with voices of "can still rise" and "miss out if you don't buy", it often means that the emotional premium is already very high. At this point, what you need to do is not stand in the excited group, but go against the group. On the contrary, when the market is deserted, pessimism spreads, and even many people begin to doubt the logic of the entire industry, the emotional premium is often already squeezed out. So, the core of band trading is not to sell high and buy low, but to go against the crowd. This may not always be a 100% successful strategy, but in the long run, it will far outperform the market.