$EGLD 30 new low today, current price 3.169, previous low 3.187.
Three common moves after a new low:
① Bounces back to the previous low, then falls again: the downtrend continues
② Moves sideways near the previous low: consolidates and waits for direction
③ Quickly recovers the previous low and holds above it: a bear trap
It is currently below the previous low, so first we'll see whether it follows ① or ②.
Three common moves after a new low:
① Bounces back to the previous low, then falls again: the downtrend continues
② Moves sideways near the previous low: consolidates and waits for direction
③ Quickly recovers the previous low and holds above it: a bear trap
It is currently below the previous low, so first we'll see whether it follows ① or ②.