Under a private system, the link between price deviation and correction is immediate and strong because supply is under the direct control of the currency issuers, who have the means through loan and trading operations to tightly clamp down on (or expand) the supply.
An immediate change of tactics was warranted, and one would be alert for a 50% correction of this first rally to not only get out of short positions, but also go long with a stop below the low seen.