Not exact matches
It's been a quiet week in the
markets (yes, they've been
very choppy, but there hasn't been any compelling news to cause it).
Still, the session was
very choppy with the NSE index falling as much as 1.8 % at one point and rising as much as 1.5 %, with sentiment still weak because of continued worries about a downturn in Chinese equity
markets.
Given the weakness in all of the major indices, we still expect the correction to continue, with at least a re-test of the lows in the case of most of the benchmarks, although the
market might get
very choppy before the Fed's meeting on Wednesday.
Look at other
markets that are beginning to trend as I hate to trade
choppy markets as they are
very difficult to trade successfully.
When
market conditions are
choppy and indecisive,
very few stocks and ETFs follow - through in either direction of the
market.
If there is 4 or more inside bars as part of the fakey pattern is can be
very powerful if the
market is trending or if the
market is at a major level, but if the
market is
choppy then it might just continue that sideways grind and the inside bars are less significant.
I think you have touched a
very sensitive issue concerning the «
choppy price action»
market.
Very often, a trader will do well when a
market is trending, but then when the
market stops trending and starts consolidating and getting
choppier, they lose all the money they made while it was trending.
A
choppy market is one that is consolidating
very tightly.
However, as we can see that was certainly not the case because if you shorted the
market after this pin bar formed you would have had to endure 7 days of sideways
very choppy price movement before price finally started rolling over.
While neither piece of news is anything that should cause a major sell - off, the
market has been
very uneasy since the
choppy start to the new year.