GoNoGo Oscillator fails at zero for first time since March 25th!
GoNoGo Oscillator has failed to find support at the zero line and has dropped into negative territory for the first time since March 25th!
Price appears to have set a lower high and is struggling to maintain the pace of the “Go” Trend that it is in. The GoNoGo Oscillator should be able to rally off zero after any correction in a “Go” trend and so the inability to do so this time poses a threat to the “Go” trend.
If the GoNoGo Oscillator stays negative we expect the GoNoGo Trend indicator to struggle to continue to paint “Go” bars, and a color change will be likely.
What are the GoNoGo Indicators?
The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from bright blue (strongly bullish) to dark purple (strongly bearish)
The GoNoGo Oscillator blends traditional momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely oversold) to +6 (extremely overbought)
Price appears to have set a lower high and is struggling to maintain the pace of the “Go” Trend that it is in. The GoNoGo Oscillator should be able to rally off zero after any correction in a “Go” trend and so the inability to do so this time poses a threat to the “Go” trend.
If the GoNoGo Oscillator stays negative we expect the GoNoGo Trend indicator to struggle to continue to paint “Go” bars, and a color change will be likely.
What are the GoNoGo Indicators?
The GoNoGo Trend indicator blends traditional trend concepts to color price action according to the strength of its trend. The colors range from bright blue (strongly bullish) to dark purple (strongly bearish)
The GoNoGo Oscillator blends traditional momentum concepts to demonstrate the velocity of price action. The oscillator ranges from -6 (extremely oversold) to +6 (extremely overbought)
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