Predicting target price??????

[fdisk]

I see many of these site that say they will (of course for a price) give you a target price and an entry point. They claim that they have a better then 70% accurecy rate. From what they show on their website it appears that they are good. What tools do you feel they are using to make these"predictions"?????????

Also is there a way to caculate a guess as to what the nexts day high/low might be?

[Wallace]

" is there a way to caculate a guess as to what the nexts day high/low might be?"

Hello Fdisk, there's probably several methods available, Support and Resistance for one — use search — and tho I don't calculate for the next day's H/L, find the fibonacci price levels tool most accurate.

You'll find several current threads regarding fibo/Elliott Wave trading in addition to this fibo info thread:
Fibonacci Links

[fairwind]

Hi fdisk,

The attached is an example of an intraday target set, based on R/S levels.
'A' is the entry SELL point, 'B' is the first R/S level and 'C' is the second R/S level. Which do we aim for? That depends on how we manage the trade and how well we understand the probabilities of the price movements.

Entry price was ...078, B level was ...026 ( profit = 52 pips ), C level was ...985 ( profit = 90 pips ).

imho, the breaching of the first level was a fairly safe guess, so an exit any where between B and C would have been OK by me.

Note that in MT3 I only use the candle body for these levels as the MT3 uses the ave of the bid/ask for these charts. This gives 'false' H and L's.

[BullMarket]

Wow, That's a lot of help. Thanks!!


Are there any sources of online material available to help with the predicting a good price target? Is S/R a good technique for non-treading and volatile markets? Or just for trending. Or good for all 3.

Thanks,

-Frank

[fairwind]

The internet, including MoneyTec, is full of TA idea's and strategies.

My interest is in intraday trading, so the 'over all' or long term trend is of little use to me. The movement between C and A is my intraday trend. The movement between A and exit is another intraday trend for my purposes.

Predicting target price can also be done with Fibonacci extensions, do a search in these pages, there are lots of references to that.