Did you ever think that what happened yesterday may represent the market's expectations for tomorrow. And if so, there is information that can be obtained by studying yesterday's action. Just like knowing history is valuable in life.
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Could you elaborate a bit more on this?
Historical price acting is a precursor to current market action. This goes for all commodities, stocs, forex etc. So if the charts show a positive trend, it is a better percentage bet that the trend continues. Of course eventually it ends. My point is though, that there is information in charts and one would be ill advised to completely ignore the visual picture they represent
I can see that, but no one should base them as 100% outcomes though, to do so would be entirely foolish.
Absolutely, it is a tool among many others