Where did I go wrong with Genting?

After I read the Genting Chart on Tuesday,I was tempted to move in on the counter. However, I found myself reluctant even today to confirm the order. I have the order screen in front of me and on the last minute I switched the window off. What stopped me then was my thought that I have not done enough before moving in. I did not put in all the parameters for this trade especially the stop loss level.

I was surprise that this counter went down today, especially when it hit the 50% projection yesterday, the probability of it rebounding today should be high. Apparently, it had not fallen enough yesterday and went a little more today.


Fig 1 Genting Daily Chart

Looking at the chart, Genting reached the fibonacci 1.618 projection, with both Stochastic and RSI at the bottom region. The probability of this counter rebounding is getting higher.

However, on a bigger picture, it is not a counter to move in to. One thing for sure, my 21 days moving average has crossed the 55 days moving average from the top, it is a golden cross and indicative of a bear market for Genting. Long run would be more South pole exploration and definitely a short target.

Still I have not seen what's wrong with my reading, may be its dumb luck? Because we are playing with probability and there is no 100% certainty. Genting today is still completing its 5 wave move downward so the set up is still right. The question would be when it is going to turn for B?