'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Friday, May 25, 2012

Friday's Zigzag Market

Shown is the 5-min. chart from the Nasdaq (etf QQQ) index wherein it moves on a choppy sideways.

In this kind of choppy market, you can't spot any good location to put on a trade, either long or short.

This is where you don't do anything and just stay on the sidelines.