$SAVE in max GoNoGo Squeeze and “NoGo” trend

$SAVE in max GoNoGo Squeeze and “NoGo” trend


September 2022


Alex Cole

$SAVE in a "NoGo" trend since the end of August, now perhaps poised to move lower.

After price moved to a new low on September 6th, it has seen a counter trend correction (signaled by the green arrow).  This has caused GoNoGo Oscillator to rally to test the zero line.  It has been "riding the zero" now for several bars which has caused the climbing grid of GoNoGo Squeeze to climb to its max.  This highlights the tug of war between buyers and sellers.  Even though there has been strong volume during the squeeze (oscillator dark blue) there has been little directional momentum.  We will watch to see if GoNoGo Oscillator breaks out of the squeeze into negative territory. If so, we can expect price to make an attempt at a new lower low.