This is a skill that takes time and experience, as well as the training of the ear.
If you train your ear enough, and if you are playing your opponent in the same physical location, you may be able to pick up what moves or tactics they are executing by your ears.
For example, you can listen for charge partitioning and listen for whether they are about to do a hadouken.
With high reaction speed, you will be able to take advantage and punish them.