can price action predict market moves

What about the monkey and the cat. What is likely to happen?

 

What about the chart above? Long or short? Why?

 

I gave you a like pal, that's the least I could do

 

Personally, I wouldn't take a position there as I don't trade that way. I would have been a buyer at previous swing low, which would have been quite prosperous on this occasion.

In fact I've learnt to be totally unbiased to market sentiment, I buy support and sell resistance levels using very strict risk management criteria. I don't try to play the guessing game, if I see confluence at any specific level, I'm in a trade.

 

Don’t forget the gun factor. It doesn’t matter your normal way of trading this is what you have here in this scenario. Now predict! Will price likely go up or likely go down within 2 hours? It is a 5 minute chart. Long or short?

PS why would you have been a buyer at a previous swing low? Rationale?

 

I agree!! There goes your silence prediction. Wrong again

 

1. OK. I'd probably look to fade the move.

2. Rationale is simple - potential reward > risk.

 

Why is the reward greater than the risk? What makes you think it to be so?

 

LOL the trade has not ended ...so to speak.... Total agreement by all ET’s has not happened. You are one tick amongst many!

 

What is this trading 101?

Price tends to oscillate between support and resistance levels, looking at your chart a conservative target, below resistance level, is a multiple of a stop that I'd have used in this situation.