Yep ! A question both simple and hard as highlighted above. A...

Yep ! A question both simple and hard as highlighted above. A question perhaps for Monday pre-class LOL ! Both objective and subjective perhaps and also a question of correlation and causation. In short however there is data to suggest that price changes in the past can influence price changes in the future. The issue though often becomes one of timelines and how far the look back period is. Think ' the butterfly effect ' and the effect of time on small errors such that larger the time lines the more difficult in becomes to attempt to forecast change. If you are keen to explore you may enjoy some of Benoît Mandelbrot's research on price dependence and memory in financial markets. Books are hard to recommend for most people but I am thinking that his book 'The Misbehavior of Markets' may make for you a good read. I have read some of you in-depth and detailed FA posts and think you may find some of his views though provoking if nothing else if not already familiar with his works. If you are not sure about the fractal geometry side of it no need worry. There is much more to it than squiggly lines and triangles and squares. Stay safe. Tomorrow could be a good day for those that like to average down ! An approach that scares the wits out of me, but anyway. Monday beckons. My opinon only of course !