Tondo Trade - CROX

Last night I put CROX on my WL because I liked the action yesterday and thought it could be a continuation play today. On the first bar (decisively bearish) CROX took the low swing of the previous day. The second and third bars are sort of "bearly hanging" (pun intended) from the PP and the third bar closes near its low (which according to Jamie is a decisive factor in the success of these setups). The following bar was WR that reached R2 and although I would normally take a partial there, I sensed that that was not the end of the move. CROX dropped a bit more and then consolidated sideways throughout the late morning and lunch hours (nothing new here). At 2pm I took a partial because I did not like the tweezer bottom that took shape around 1:30/1:45pm. Eventually, CROX dropped a little bit more, but did not make it to $17.00; which was my "ideal" target.