Our awesome Trend/Wave/Extreme Indicator tells us there’s a good Buy situation being formed and it seems like it since:
- the extremes are in the oversold area
- there’s a strong upward trend both in terms of chart pattern and the Trend Bar nearly fully filled to the upside.
- 2 consecutive up candles have been formed
Seems like a downwards correction has been completed and is ready to rise again.
Read about the Trend/Wave/Extreme system here