Are Wicks Important? Types Of Wicks: Fill, Rejection & Reversal
Please look at your own charts:
Do you see all of the following?
Wick Fills? These type of wicks happen going with the trend and get filled with further price action on chart.
Rejection Wicks? Mostly happen at key support and resistance zones or key quarter theory psychological numbers, a lot of traders have orders there.
Reversal Wicks? Happen at key areas mostly on 1 hour, 4 hr, daily, weekly and even monthly charts- these are areas with large wicks in past which once price action comes into these areas at key resistance and support areas- will accumulate orders and reverse directions.
See attached 1 hour charts----
How many different types of wicks can you see and/or spot.... you need to see quarter theory psychological numbers in actually real live time when trading Forex. Always start with monthly charts and keep going lower until you are trading with the chart of your choosing. Higher time frames will give you better risk to reward opportunities then under 1 hour...
If you truly understand wicks- you will be a better trader and know if you scalp trade, day trade or position trade when to look for quick wick fill candles to catch some quick pips. These are the easy Forex trades to do, make sure you are trading during high liquidity and volume time periods only.
Do you see all of the following?
Wick Fills? These type of wicks happen going with the trend and get filled with further price action on chart.
Rejection Wicks? Mostly happen at key support and resistance zones or key quarter theory psychological numbers, a lot of traders have orders there.
Reversal Wicks? Happen at key areas mostly on 1 hour, 4 hr, daily, weekly and even monthly charts- these are areas with large wicks in past which once price action comes into these areas at key resistance and support areas- will accumulate orders and reverse directions.
See attached 1 hour charts----
How many different types of wicks can you see and/or spot.... you need to see quarter theory psychological numbers in actually real live time when trading Forex. Always start with monthly charts and keep going lower until you are trading with the chart of your choosing. Higher time frames will give you better risk to reward opportunities then under 1 hour...
If you truly understand wicks- you will be a better trader and know if you scalp trade, day trade or position trade when to look for quick wick fill candles to catch some quick pips. These are the easy Forex trades to do, make sure you are trading during high liquidity and volume time periods only.