If you hit her high she may not bleed much, the body cavity takes time to fill up before running out the entry hole. Also if the arrow is still in, it will help keep blood from coming out as well. If you got her in the lungs she is probably dead out there. Don't just look in a straight line where she ran either, I've had deer make turns and end up going the opposite direction within 150 yards.

Was it a broadside or quartering away shot? How did she act when hit?