Some do it at a break, some fish near previous support. We are talking ability to forecast and you asked for an example of a forecast prior to it happening, so that's exactly what I posted.
Do you know why B1 is spot on? All he is saying follow the market's bigger turns and do not overcommit, that way you don't need to be a constant slave to ever changing market conditions and can treat trading without a PhD in finance or econometrics.
When you drive ona busy highway, do you ignore moronic actions of other motorists and let an accident take place or do you try and predict their actions based on their behaviour?
I agree with following the larger turns and not overcommitting. I just don't see what indicators have to do with it. If somebody were following oil and wanted to buy via PA, he'd have bought the double bottom and subsequent rejection at 44 (the MACD would have been no help there). Buying at 50 is fine, but then one is facing tons of resistance at 55. Of course, if you're planning on trading the range, that's another matter.
Yes--I agree. One must first plan not to lose too much on each trade Excellent--I can see exactly where the entry was and how weak the price action was at the time. Really like your analysis here.
Believe you are giving me too much credit. This is what I am saying though. --Principles apply in any time frames as well.
Here is another forecast, GBPUSD to advance to around 1.6 as preliminary target. B1 are you getting on GBP train? This is weekly chart and a book perfect pattern within MACD's histogram.
One more, Gold Monthly, my favourite pattern within MACD's histogram, stop below monthly lows and preliminary target of $1,500. Interesting timing, stock markets are on the brink of decline, gold looks ready for retracement. Of course, these are forecasts, price hasn't confirmed them yet, that's where your TL break confirms sentiment.