Experience I guess. 2 weeks of new true value, after such a large price pop usually slowly walks down, before challenging top resistance again. IMO there was time, because I've seen the high and tight flag pattern before.
I read the sentiment that way. And when the price tried to break top resistance yesterday. It was the first time the sentiment seemed to change after two weeks of null. So my read on the play went from expecting a slow walk down, before continuation, to possible positive sentiment change, without.
Any other combinations of chart and TA, then what I saw there and I would have done exactly what you mentioned. Standing buy order at $2.00 Also the conflict in the support indicators CMF & stochRSI backed up an extended accumulation period, in my mind.
Your question does my heart good. Great question, showing some are actually following my bull chit and learning to apply the lessons. This one was an unusual one and you correctly called me on it. Should have been strong watch from the start per chart. It could have broken out any day. Personal experience caused me to post on watch and I had on an alert @ 2 bucks. Instead of open buy order.
But on strong watch now. That requires volume and higher entry price. Now 2.10. Yes I'll get a smaller pies of any pie. But safety after the fake spike without volume behind it. Only thing change is my sentiment about when, not pattern working. Ps; like today hanging up there even without volume. Sentiment now, followers later. We'll see!
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