There are several different strategies says Russ Whitney when it comes to the topic of Market Forecasting.There are those that believe forecasting the markets with any kind of accuracy is a practice based on false hopes and unrealistic expectations.
Then Russ Whitney suggests there are those who believe that the markets can be accurately predicted in advance, and Market Forecasting with a high degree of accuracy, although not 100% of the time, is possible and can be achieved with the right methods and techniques.
Traders who are familiar with Technical Analysis are likely familiar with the concept of divergence. The divergences are not going to be used to forecast in advance what day or week the market is going to make bottom or top.It is the forecasting method that help the trader to anticipate whether the market is about to change trend.
Russ Whitney predicts whether you consider the forecasting of market price action to be the prediction of a future turnover as to when the market will make top or bottom, the whole point of forecasting is to minimize risk exposure while maximizing profit potential.
If the goal of the trader is to get into a new market move as early as possible with the least amount of risk exposure and the greatest amount of profit potential, then it is the trouble to learn all you can to make that happen.Market Forecasting is a practice that falls in this category.
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