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Originally Posted by TraderABC
Hi all.
Does past price action in any way shape the direction of future price action?
Lets brainstorm, are there any ways to check this? Any ideas? Indicators, etc?
thank you!
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Do you really believe that past price action can predict or have anything to do with future price action??
I don't think so. Th future is unknown whatever many people will try to convince me that it is predictable.
Every future action just have a certain probability of happening, and another of not happening. That's it. You can never predict future price action from current or historic, or even using whatever indicator. That's my own opinion, and I believe in it very much.
The history does not repeat as many people say, or else, we would have been machines responding with the same actions when we experience the same circumstances. When you double click your mouse over your "My computer" icon, you literally know what will you see in the next 2 seconds, because you have done this before, and based on your historic data, it will happen again, and again. That's true for computers and machines, not human beings.
Thanks,
Nader