Bluff catching is an art. Part of it is to check, if the story make sense? Would he play any of his strong hands this way, or does this smell like a line, that is really designed to make me fold?
Example: We were 7 players left in small MTT, where 6 places paid, so right on the bubble. I was the third shortest stack with around 25BB. Someone was very short with 6BB. I open AQ for 2.5BB and the chip leader in BB massages it up to 5BB. I call. Flop come AJ7 rainbow, and now he open jam for around 2 times the pot. If I call and lose, I am the bubble boy, so I have a huge incentive to fold.
However I strongly feel, that this player is aware of that. He named himself "agromonster", and seemed like a decent LAG. And also if he had a very strong hand like AA, JJ or AJ, why play it so fast? He had 3 streets to get the money in, so would he not try to rope me in by betting small on the flop, a bit more on the turn, and then rest in on the river?
This smelled like a bluff to me, so I called, and he had KK. Unfortunately he got there on the river, and I was out, but the important is, I made a correct call based on the fact, that his story made no sense.
It was also a correct call from a game theory standpoint, because AQ is one of the very best hands, I can even have. AA, JJ and AK probably get committed preflop. So if I fold AQ on this board, I only give him action with exactly AJ, 77 and A7s, and he can run me over with bluffs.