Is it worth the risk? Irratic price movements
5 minute Candlestick Chart
Hi,
The market is in an undecisive mood again. Although the moving averages are sloping slightly upwards, there is no real trend. In order to confirm this, look at the 15 minutes chart below. You will notice that price is range-bound in a horizontal channel. It might appear that price might breakout the channel once it hits the boundaries. But, really, it is just moving in an erractic fashion without any clear direction. Another tell-tale sign that price is not trending is to look at the stochastics and MACD. You will realize that they have poor symmetry, reflecting the irratic price movements.
15 minute Candlestick chart
