This caused an almost 6% charge north in one day! However, there did not appear to be significant underlying - which is a bit worrying.
But isn't everything. I show two points on the chart that I think may be comparable. In technical terms the two recent weekly candles are the biggest since 2013. The momentum seen on lower time frames is ridiculous. In these situations a minor correction is expected (not predicted), followed by follow through. If you have enough 'bottle' and money to burn go for it, on a lower time frame.
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It gives a good visualisation of what's happening with price. Darryl Guppy - the inventor of the GMMA - developed a very unique trading system using it. See https://www.newtrader.club/2015/06/22/trading-with-guppy/
I use it only in conjunction with the ATR indicator (amber line). I've notice a high probability of price bounce when the ATR is sitting just above or below the last large EMA of the GMMA (never perfect of course).