Jesse Livermore become one of the most successful traders of the 20th century by "Reading the Tape". When he was just a teenager he began developing his uncanny ability to sense upcoming price movements in stocks by "reading" the ticker tape that provided stock price and volume information from the New York Stock Exchange. Livermore become an expert at tape reading and he used this and other skills to reap a huge fortune in the markets.
What is most interesting about this is that Livermore was able to develop a very simple skill to gain a massive competitive advantage at a time when most of the financial markets were notoriously manipulated and corrupt. One of Livermore's greatest accomplishments was to short the market in railroad stocks during the financial collapse of the Great Depression and make millions of dollars of profit.
"Reading the tape" is not about market prediction. Prediction is a fools folly. Reading the tape is about using a high level of understanding of market structure coupled with price action experience to find the higher probability of which way the market is heading.