After another strong rally, we see a red counter trend correction arrow above price. This indicates a cooling of positive momentum and suggest that price may struggle to make new gains in the short term.
This has happened over and over again during this incredible run.
With the “Go” trend solidly in place we have seen the low risk entries (Green circles) at the start of each surge and then the red counter trend correction arrows signaling the consolidation.
If the pattern repeats, as the GoNoGo Oscillator falls to zero, we will look to see if it finds support again.
By
Alex Cole
