Can price predict it's own future?

[maxinger]

So a pattern or signal is not a prediction?

I call it a reaction.
Some call it a prediction.



Take for example a stock price going lower and lower and lower.
Then it touches the support line.


If the trader goes and takes a long position, then I call that
trading based on anticipation / prediction.
I don't recommend this way of trading.


If the trader waits for some confirmation / pattern (eg after touching
the support line, the price goes up and forms a higher low),
then that trader is reacting to the market/chart.

 

[SunTrader]

I call it a reaction.
Some call it a prediction.

Uh huh.

 

[Sekiyo]

Depends your timeframe also ...

Swing wise it would be dumb to long here
But the market already trapped longs.

View attachment 312373

I don't usually do this kind of analysis ...
Next move towards 412

Maybe 410 Low of Range

Got no Short signal yet.
Needs to close below 414 (currently)

412 (Done)
Looks like we're going toward 410

Let's see

 

[murray t turtle]

With that many levels to choose from some are bound to get hit just by chance. Might as well use the manual grid that your charting package supplies by default.

%%
LOL/exactly;
+put enough moving averages on a chart + may very well hit or get something.
Some weather forecasters are 80% accurate/Farmer's Almanac.
Some moving averages seem to ''get hit''+ have some profitable pattern$ around them.
Its not really a coin flip; especially if one tosses the coin carefully

 

[semperfrosty]

I read everything that pass my sight, so I will read them even if I think that reading the horoscope will give me more insight of what is going on... I do not trust TA at all

What is your go to alternative?

And simplemelike,you need to choose a lane.Its not possible to like this post and be in agreeance with Scat.Also seems like hes given you a lot of his time.

 

[SimpleMeLike]

Bro, are you too lazy to research an answer to your own question? Yes, but I research him. I did a quick research on him http://www.michaeljenkinstradingresources.com/ and he has no proof of making money yet he has ALOT of stuff to sale. LOL, typical Trading Guru, make money from selling trading theories, for YOU to go out and waste your time studying and trading. By time I am done buying all of his trading education, I be about $5000 poorer, and whole bunch of stuff to read and study and waste time learning from a unprofitable trader selling trading theories. Shit, I can do this too if I was in the selling trading business.
Your assumption that any trader has to earn over a million a day
trading the markets is completely foolish. Per year, not day.

Does your present mentor earn a million a day trading? YES, not a day, per year. YES, my mentor teaches me everything, and YES, my mentor make millions. Would you like my mentor contact information? Let me know, I send to you easily and my mentor can help you as well or any other ET trader who wants his contact information.

How about lowering your standards to at least a million a year. This my standard, million a year.

You claim you now have a Mentor. When I was under mentorship
I was instructed to read several trading books. If your mentor
instructs you to READ a trading book, would you? My mentor NEVER once told me to read no damn trading book. NEVER EVER. Why would I waste time reading a book about trading and I do not know if the author makes money or not? Could be a scam or lie.

Or will you continue in your naïf and negative assumption
that nothing can be gleaned from reading? Wrong, nothing, IMO, can be learned from readin g trading books. There is too many trading books to read, I be 90 years old before I am done reading all the trading books there is out there for sale.

Good luck to you Thank you, same back to you as well my friend. Thank you for the kind conversation.

Good morning mikeriley,

Please see my comments in red

 

[SimpleMeLike]

What is your go to alternative?

And simplemelike,you need to choose a lane.Its not possible to like this post and be in agreeance with Scat.Also seems like hes given you a lot of his time.

Good Morning semperfrosty,

How it goes buddy.

 

[semperfrosty]

Hello Scataphagos,

You are right about that my friend. No need to search any further than Price TA. Unless someone wants to go down a VERY lonely and cruel and pain staking rabbit hole of never return, only to find out a butt naked ass chart with price is all the eyes need.

wtf?

 

[SimpleMeLike]

wtf?

Hello semperfrosty,

LOL HAHAHAHAHAHAHHAH hahahahahha

Hey man, it is what it is .

 

[semperfrosty]

How come so many 'profitable' traders here trade so small position?
Do they spend all theirs small profits as soon as they close a profitable position?
I mean, if you make money, at one point, your position will increase!
Seems that it's not the case as many trade a couple of micros at a time....
And the only reason trading micros over minis is the lack of AUM.

I don't know. Maybe it's just me...

I was thinking the same thing.

I actually thought that trade would be somewhere around $250 per point.

No judgement,just surpirised at final earnings.