The U.S. Dollar Index has been in a free fall since the beginning of July. Above is a 4hr GoNoGo Chart showing the “NoGo” trend highlighted with the purple and pink bars.
Along the way, each time the GoNoGo oscillator has been rejected from below by the zero line, we have been given low risk entry points into the “NoGo” trend (Red circles).
The GoNoGo Oscillator is at an extreme of -5 at the moment. Should the oscillator cross above -5 we will see a green countertrend correction arrow indicating a likely pause in the move down. Until then, step aside!
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)
Along the way, each time the GoNoGo oscillator has been rejected from below by the zero line, we have been given low risk entry points into the “NoGo” trend (Red circles).
The GoNoGo Oscillator is at an extreme of -5 at the moment. Should the oscillator cross above -5 we will see a green countertrend correction arrow indicating a likely pause in the move down. Until then, step aside!
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)