FORECASTING price targets into the future - My opinion

IT is possible to forecast price target levels into the future BUT one need to put safety measures in place.

I would classify price forecasting into 2, namely the INTRA-DAY short term and the NON intra-day LONG term. Irrespective any forecast, we must have the same system for both that is a template for all time frames and all products. 

The important and key criteria is we need to be flexible with the targets. Flexible to be able to accept the target MIGHT NOT BE HIT, fall short of the forecast. 

There is NO rule to say the forecast will be 101% accurate but if the trend continues the likelihood the forecast be hit or exceeded will be high (SUCCESS). BUT if the trend weakened that very likely the target will not be hit is also high (FAILURE).

Understanding directional trend, its underlying momentum strength changes will be crucial to determine the probability the target is achievable or not or exceeded.

My approach to understand the above momentum strength analysis is using the chart indicator that I am familiar with and able to interpret the indicator formation accurately with minimal errors.

ONE tool to track and follow the trend direction and ONE different tool to measure the trend momentum strength and changes.

I have developed and kept my system simple, it did NOT negatively affect the accuracy and reliability. IF any losses incurred, it is my own failure NOT to follow the rules that complement the system. HOPE is the culprit. Yes, eventually, my opinion against the system will be proven correct BUT it is without enduring the pain in the process. 

One should remove the believe that the complicated or the more indicators, the system will be more reliably accurate. On the contrary, the simpler the system, the more accurate and robust without complications and contradictions. 

Convincing my opinion is correct and the system is wrong is NEVER a happy journey.It has always been painful.

A PERFECT SYSTEM is a template that can be used across all time frames and all products. MOST IMPORTANTLY it can be used across all platforms be it handheld mobile or PC/Laptop. This is exactly what I have polished over the years.