$AERO 30 hit a new low for the day; current price: 0.4499, previous low: 0.4531.
After a new low, price action commonly takes one of three paths:
① It rebounds to the previous low, then gets pushed back down: the decline continues.
② It fluctuates around the previous low: a change of hands as the market looks for direction.
③ It quickly recovers the previous low and holds above it: a bear trap.
For now, price is below the previous low. First, let’s see whether it follows ① or ②.
Just my personal perspective; it may not be accurate, so take it with a grain of salt.
After a new low, price action commonly takes one of three paths:
① It rebounds to the previous low, then gets pushed back down: the decline continues.
② It fluctuates around the previous low: a change of hands as the market looks for direction.
③ It quickly recovers the previous low and holds above it: a bear trap.
For now, price is below the previous low. First, let’s see whether it follows ① or ②.
Just my personal perspective; it may not be accurate, so take it with a grain of salt.