What should you anticipate?

You correctly anticipated all the risks in this situation. The sign indicates a pedestrian crossing area, especially children.

1. Adults walking onto the road: Since the parked cars limit visibility, adults could suddenly step onto the road from between cars.
2. Children appearing between vehicles: Children may be harder to see and could run out between parked cars unexpectedly, especially near schools or playgrounds.
3. Need to brake heavily: Due to these possible sudden appearances, you must be prepared to brake hard to avoid accidents.

The rule here is to reduce speed and drive cautiously when you see a sign warning of pedestrians, especially where visibility is limited by parked vehicles. Always be prepared for unexpected movements by both adults and children near such areas.