NoGo trend has been identified on the Daily GoNoGo Chart. For the first time since April 28th the GoNoGo Trend indicator has been unable to maintain *bullish blue bars.
This change in the price environment comes as the GoNoGo Oscillator crashes through the zero line which shows that momentum has also turned *bearish.
There could be support just below current levels which might cause price to pause, but the trend on the Nikkei 225 Index is now a NoGo.
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)
This change in the price environment comes as the GoNoGo Oscillator crashes through the zero line which shows that momentum has also turned *bearish.
There could be support just below current levels which might cause price to pause, but the trend on the Nikkei 225 Index is now a NoGo.
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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.