Question to all the Price Action Expert

wrbtrader said:
galvin,

Try your game again via the below chart. In fact, one of your questions in your opening statement was about "context".

Guess what, this is a real-time chart that has not had any context info removed in such a way that no trader actually trades that way.

Now ask your PA experts about this chart. :D
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Approx. half the people would see a higher low and initiate a long. Approx. half would see failure to break through resistance and initiate a short with the momentum. A few would see nothing and not react, and a few more would see something completely different and act according to their views.

Difference of opinion is what makes a market. Nobody knows the future with anything greater than 50% precision.
 
Yep.

There's also some statistical info (not mention because its part of the market context) about today in relationship to today's price action reacting to yesterday's price action to impact ones trading decision involving the Emini ES futures going into the close after the time shown on the chart I posted.

Remove the name (Emini ES futures) and other info...the statistics no longer matter and the trader's experience in this particular situation no longer matters. Instead, the analysis becomes strictly only TA (PA)...nothing else.

I don't think its possible to trade profitably via TA alone without anything else.
 
panzerman said:
Nobody knows the future with anything greater than 50% precision.
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You don't need to know the future. If you know what will happen the next minute you know enough. Proceed minute by minute. The shorter the time you have to "know"" what will happen the higher the probability to be right. The probability of being right reduces exponentially in time.
 
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