$DE in Max GoNoGo Squeeze Within “GO” Trend

$DE in Max GoNoGo Squeeze Within “GO” Trend


August 2023


Alex Cole

$DE is in a Max GoNoGo Squeeze after having set consecutive higher highs and higher lows.

After the most recent high, we saw a Go Countertrend Correction Icon (red arrow) that suggested prices may struggle to go higher in the short term.  That has been the case with prices moving lower and sideways since.  GoNoGo Oscillator fell to test the zero line where it stayed causing a Max GoNoGo Squeeze to build.  This represents a tug of war between buyers and sellers at this level. We will watch to see if the zero line holds as support for the oscillator and if it can bounce back into positive territory. This would tell us that momentum is resurgent in the direction of the "Go" trend and we could expect price to mount an attack on the prior high.