Summary
In the last post I thought I had missed my buy at the $29.93 pivot. Today I was watching for continuation, just to see if it would have been the right play had I made the trade.
Instead, the price pulled back on low volume. When the bid was below $29.93, I entered the above trade to take it if it moved back up through the pivot again. After falling all the way back to test the 50-day MA, it did move back up through the pivot and my order filled.
The action of moving below the pivot and back through again on low volume indicates it was a pivot retest, which passed as no sellers came in to push it lower on increasing volume.
