In addition, if the go/no-go moment "in time" is not illustrated by the chart snippet, there's not much meaningful information to be had. In other words, that particular 5m bar would not be the point "in time" to make a decision.
What I described are all components of price action. Price Action isn't just looking at bars build on a single TF, it's much more holistic than that - at least to form the distinctions and awareness of high probability vs low probability trade timing and locations.
Bingo! Ticking off the checklist makes or breaks a trade. Just because the charts are printing squiggly lines and one is sitting in front of their computer doesn't mean a trade is there to take.
First, I don’t use a 5-minute chart. Never have. Second, I don’t predict anything, least of all the close of the next bar. (Seriously? Is that what you’re asking for? The close of the next bar?!) Which you certainly couldn’t do either, even if your life depended on it. And third, while a “hit rate” is not to be dismissed, it is certainly not the only ingredient to consider in evaluating the feasibility of a trading plan. Besides, what does “hit rate” mean? How do you measure it? This variable does not exist in isolation, and is dependent on protective stop placement, which in turn can potentially depend on your time horizon and/or risk/reward profile, which can in turn depend on the trade size you choose to employ in a trade. And so, my question to you is, Although you seem to know a lot about the markets, do you actually trade them?
Define price action, please. But yes, I, personally, would need more than a naked chart taken out of context like the ones you had in your quiz. I trade index futures, though. Not stocks.
The questions are binary — will the next bar be higher or lower? Not asking for a specific price. This forum is full of people who claim to be great at price action analysis, so thought a quiz measuring that would be useful. Yes I do trade.
Not sure how I'd define it myself. Each trade is independant. At the end of the year I expect that my gains will be more than my losses. When entering a trade I rarely have a target. Since a lot of my trades are at new highs there is nothing overhead that will slow the trade down. PA comes into it here again. Depending on how the price is moving I might scale out. I never let a winner turn into a loser if it's my choice. (I can't control gaps down) I know you don't want to believe that you can trade without any information other than what you can find on a price chart, but price does tell the story. I have no idea what the market will do, I only know how I will react.
I think I read somewhere that the next bar has about 50/50 outcome. I actually ran a test for breakout vs reversion algo on a single bar with 1:1 RR. It's more or less 50/50 win rate for both. But you can't simplify PA to just predicting the outcome of the next bar. Way too many variables in a trading system. I read a bit of your posts to gauge your experience. For someone like you, I'm shocked that you think this survey has any merit.
Of course. Exactly why I replied the way I did. OP is not a trader. He advises. A CTA, CFP or some such.