Not really. There are plenty of traders who are opportunists trading order flow and price action. There's a population of manual traders, swing traders and algos who will identify liquidity takers and race them. That's actually the central tenet of among others tape reading, Momentum and Market Profile trading systems.
Let me give you an example - an ES day trader monitoring his order book price ladder sees two successive offers get taken out very quickly. The third offer starts to trade out and in the blink of an eye our opportunist buys a 10 lot. Our opportunist quickly offers a 5lot 2 tics above his entry price and another 5lot 3 tics above. That type of trading is quite common and I don't think that those types of traders are necessarily looking to pick a top or bottom per se.
It's a matter of perspective. One frame of mind is standing in the middle of the railroad tracks and telling the train to stop because it's gone far enough, and the other frame of mind is to hitch a ride on the train and hopefully get off as the train is slowing down. Both approaches are risky. It all depends upon how you choose to take on risk.
