1. How do I know it's a correction?
Corrections often happen when the price action of a security is too intense to keep going that way.
The signals I saw since 3.15 are the following:
-The rally was, in fact, a stair step pattern, bouncing each time it touched the trend (in sky blue) to make new highs and breaking the RSI 70.
-Volume was decreasing as the trend weakened.
- The price action struggled to keep the trend.
2. Buy zone
I'd start buying between 2.45-2.81, but it may touch the second blue sky trend to bounce (on 2.7ish)
Corrections often happen when the price action of a security is too intense to keep going that way.
The signals I saw since 3.15 are the following:
-The rally was, in fact, a stair step pattern, bouncing each time it touched the trend (in sky blue) to make new highs and breaking the RSI 70.
-Volume was decreasing as the trend weakened.
- The price action struggled to keep the trend.
2. Buy zone
I'd start buying between 2.45-2.81, but it may touch the second blue sky trend to bounce (on 2.7ish)