Candlesticks

[bbgold]

Might retest $2 for support, maybe
Tough to decide to wait but you can see that the price has retraced from any spike high upper Bollinger breakout before. The other thing to do would be to set a buy trigger at 2.17, which would be a breakout of the current resistance, that might take it to 2.50. Remember, you want the Upside not the Downside. A Stop will protect you against the Downside but might take you out of the trade right at Support. That is why you want to set a Stop just Below the Last Support. If that Support fails and the price continues lower you will be Out and watching for a re-entry. 2.05 should hold Support short term if 2.10 fails as support. You want the Upside so you could set a Buy here, a tight stop at 2.05 and if 2.15 is taken out then raise your stop to your entry at 2.10 or to 2.15 which Should become Support if uptrending. Notice how an entry at 2.05 would not have been stopped out here? That is because the price has continued Uptrending, what you Want to happen. Reading the Candles is an entirely different analysis though and better left to those with a better understanding.
Good Luck Sara! :^)