When it dropped to 1.30 from 5.40 (it was a Friday I remember), I went ALL IN coz that's a definite bounce on the daily chart.
Now, this 1.50 is not to be treated the same way. This is a drop from the sideways point of around 1.80 - 2.00. Totally different dynamics.
The way you are seeing 'correction' is different than the way I am seeing 'correction'.
'Correction' to me meant drop from 5.4 on that red Wednesday (I played 2.39 - 3.60). Then 'correction' on the daily chart down to 1.30 Friday - which led to the swing back up to the 2.70s I think (I sold at 2.62 from my cell phone I remember on a Monday).
What I see now is some panic selling. Conclusions can not be drawn now. May drop a bit more before an upswing. I'd either buy lower or higher depending on clear direction.
Plus we must also know that the 'institutions', if they hold any shares, play both long and short (algorithm cut off the losing side and let the other one ride), so they may actually profit if the ticker goes down 50% or up 50%. So the 'loading the boat' concept is very different here.
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