CBAY Trade on Jul 17, 2017 09:36 from Boston: Tradervue User Stock Trades.

Made the same mistake today that I did on Friday which was starting the day out by longing a stock that closed a 5 min candle with a big wick showing strong selling pressure and lowering the odds of the stock continuing in that direction. It was a new candle high pullback setup, but it was too short for my liking. I usually like to see a longer pullback with more candles before jumping in. The thing wrong with this one was not that, but because of the large wick at the top of the flag pole. Killed the look.

I got long again because this looked like it was bouncing off the VWAP but the MAs on the 1 min were curling over the other direction and it just wasn't clean. It would have been a nice setup, but again, on the 5 min chart, the first candle had a huge candle with a big wick at the top. This is very bearish and I should have not attempted this twice.