What are your thoughts on using past charts(candlesticks) that similar current ongoing charts(candlesticks) to make price predictions?
When asked this question to many professors and investors, a common response is, "Candlesticks reflect the psychology of investors."
What are your thoughts on this matter?
Using past candlestick charts to make price predictions is a common practice in technical analysis, a methodology used by traders and investors to forecast future price movements based on historical price data
but it should be used alongside other forms of analysis and risk management strategies. It's important to be aware of its limitations and remember that no method can provide foolproof predictions in the ever-changing world of financial markets,