Why prices bounce off lows? Because at that point buyers believed prices were a bargain and started buying. But you cannot predict at what price level powerful bargain hunters will next jump in based on past prices. That has been my point all along.
also wrong, trend following has to do with believing current moment holds and again whether current momentum continues has NOTHING whatsoever to do with past prices. The one clueless here is you my friend.
That's where money management is key, haven't I mentioned that enough times already. Are you saying your win rate is near 100%? My average is around 50%.
Money management is key to all trading activities. Yours too. Which key are you on about now? OP asked whether pros implement historical price analyses to help forecast future oscillations and you keep saying nobody in pro world does, because you worked in the industry for 13 years and basically know it all. Ok...
Why does Bloomberg terminal and all other pro platforms offer access to conventional TA tools if they aren't used by professionals?
so that some your "pro" friends can send some esoteric charts to their unassuming client fodder. Simple as that. It seems you truly do not have a clue abut this industry. "Keep the client happy" mantra, bro. Same reason why some ibanks keep their "chief technical analysts around".