Tradable Algo Wicks
-The initial Enlightenment
Like & Repost for others
A Thread🧵🪡
-The initial Enlightenment
Like & Repost for others
A Thread🧵🪡
Alot of you must have heard Algo type trading & get confused about what it is
Simply Algorithmic trading is an automated trading by computers which are programmed to take certain actions in response to varying market data.
So to say computing is involved here
Simply Algorithmic trading is an automated trading by computers which are programmed to take certain actions in response to varying market data.
So to say computing is involved here
But I'd not dwell so much on the basics or history or theory of Algorithmic trading as its not our core for today's thread
Over time, people have watched these computers pick price action, play & trade market data and have derived a strategy from them called Algo Strategy
Over time, people have watched these computers pick price action, play & trade market data and have derived a strategy from them called Algo Strategy
It is a strategy that utilizes Wicks & Institutional orderflows and so on and so forth.
But like I said, we're not here for that
Ladies and gentlemen before we proceed
I'd kindly plead your indulgence that you help retweet the first part of this thread, so other gain from it
But like I said, we're not here for that
Ladies and gentlemen before we proceed
I'd kindly plead your indulgence that you help retweet the first part of this thread, so other gain from it
Thank you for the Repost
Let's continue...
Native to the Algo Strategy, there are 3 prominent type of wicks we'd be looking at today that are tradable even in today's price action we see everyday
They are ⤵️
Lone Wick
Borrowed Wick
Liquid Wick
Let's continue...
Native to the Algo Strategy, there are 3 prominent type of wicks we'd be looking at today that are tradable even in today's price action we see everyday
They are ⤵️
Lone Wick
Borrowed Wick
Liquid Wick
First : LONE WICKS
as their name indicates, they are wicks that stand alone in the absence of neighboring wicks
These ones are quite tricky but have high win rate
They are Carried by an Inverted Harmmer or Hanging man
Take note of the: Hanging man❕️
as their name indicates, they are wicks that stand alone in the absence of neighboring wicks
These ones are quite tricky but have high win rate
They are Carried by an Inverted Harmmer or Hanging man
Take note of the: Hanging man❕️
A Case Study on EUR
📌It is important to note that these wicks give you more Rewards when traded on the lower timeframes
📌It is important to note that these wicks give you more Rewards when traded on the lower timeframes
Another one on XAU
Pls zoom in and Study
Pls zoom in and Study
Another Case Study on EURUSD
One disadvantage of the lone wicks is that, sometimes price might pick the Hammer ignoring its extreem wick
It is advised to select the entire Hanging man candle stick if the trader cannot afford missing out on the trade
A Case Study on this below
Watch now price reacted
It is advised to select the entire Hanging man candle stick if the trader cannot afford missing out on the trade
A Case Study on this below
Watch now price reacted
I believe the pictures are well-explained
Notes to take home from the LONE WICKS
▫️Note the Hanging man
▫️Lower timeframe
▫️SL above any significant area
▫️TP on significant levels or next liquidity area
Next is Borrowed Wicks
Notes to take home from the LONE WICKS
▫️Note the Hanging man
▫️Lower timeframe
▫️SL above any significant area
▫️TP on significant levels or next liquidity area
Next is Borrowed Wicks
A Borrowed Wick
Is one prior to the orderblock
This is a very tricky one because sometimes price may not likely steer below 50% of the orderblock and sometimes these wicks are found below there
Case studies below
Is one prior to the orderblock
This is a very tricky one because sometimes price may not likely steer below 50% of the orderblock and sometimes these wicks are found below there
Case studies below
A Case Study on AUDUSD
Tho they can be found in an uptrend reversal BUT
They're mostly found in a downtrend reversal on the LTF
A Case Study on AUDUSD & GBPUSD
They're mostly found in a downtrend reversal on the LTF
A Case Study on AUDUSD & GBPUSD
Another on XAUUSD & GBPUSD
They also bring undue missed Entries & losses are inevitable as well
Below you can see price picked the entire orderblock ignoring the Borrowed Wick
Below you can see price picked the entire orderblock ignoring the Borrowed Wick
And Lastly is an easy one
Which we trade every single day even without knowing it
Liquid Wicks !!
As their name indicates. They are wicks inducing an AOV
They can be traded as inducement entries and are very simple with a higher win rate than the other types of tradable Wicks
Which we trade every single day even without knowing it
Liquid Wicks !!
As their name indicates. They are wicks inducing an AOV
They can be traded as inducement entries and are very simple with a higher win rate than the other types of tradable Wicks
A Case Study on EURUSD
Another on EURUSD
Two more on EURUSD
Notes to take home for the liquid Wicks
▫️They're Easy to spot
▫️They give you high Win rate & lesser missed Entries
▫️They can be traded on both htf & ltf
▫️They can be found in any trend type
That'd be the end of today's thread
Where are your confusions ??
▫️They're Easy to spot
▫️They give you high Win rate & lesser missed Entries
▫️They can be traded on both htf & ltf
▫️They can be found in any trend type
That'd be the end of today's thread
Where are your confusions ??
Assignment
▫️Spot the 3 types of Wicks in any pair of your choice, one example per each
5 students would be selected randomly and gifted a $6k Stellar prop account from the bunch who got it right
This thread took me 8hrs to curate
Reposting for others will take 1 secs
▫️Spot the 3 types of Wicks in any pair of your choice, one example per each
5 students would be selected randomly and gifted a $6k Stellar prop account from the bunch who got it right
This thread took me 8hrs to curate
Reposting for others will take 1 secs
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