Playing advantage after a PK is taken

I was AR recently at a local tournament and CR awarded a PK on my end. I took my position on the goal line at the edge of the penalty area. Before kick is taken, keeper is clearly off the line (about 1 yard). Shot is blocked by keeper, so I raise my flag to indicate the infraction. CR blows whistle, and then immediately after, attacking team gets rebound and scores. Goal was disallowed and kick retaken.

My question is: am I supposed to be slow raising my flag/watching for advantage? or is that on the CR? I know we are supposed to work as a team and communicate effectively, and I had information about the play and so I relayed it in real time.

They teach us to be patient in calling offside, does that also apply here as well?

FWIW, at the time I feel that I did make a mistake in raising my flag so quickly, but at the same time, CR could have been more patient as well... probably a team-effort mistake.