Trading Candlestick Wicks The Right Way - Forget The Pinbar
Candlestick wicks are among the most commonly misunderstood and misused concepts of technical analysis there is. Whereas conventional pinbars are straight-forward and easy to spot, when candlestick wicks occur within trending moves or at breakout points, traders usually make the wrong assumptions and then make bad trading decisions.
The goal of this video is it to provide a different viewpoint on how to use and look at candlestick wicks.
I see many traders who are too scared of candlestick wicks and most of the time, traders have a wrong understanding of how to read candlestick wicks.
Candlestick wicks can offer helpful information about what is going on on your trading charts and in this video I help you develop a better understanding of the dynamics behind it.
* no investment advice - informational and entertainment purposes only *
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#forex #trading #technicalanalysis
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I like how you explain the 95% of traders analogy. Very informative video.
just found ur channel. watched only 3 videos n i m loving it. U gave me a whole new perspective.
Very nice, I really like the alternate view - switching between candle sticks and line charts.
Very helpful...explaining what candlesticks do at different levels. Thank you Rolf.
Nicely done ... thank you !!!
Great explination.thank you
thank you very much for all those informative notes
Thank you for your videos !!!!
I just taught myself this yesterday!!!! My huge AHA MOMENT. 😊
That was indeed an interesting view!
Informative and detailed, the majority of the time either the books or other trainer will say it's a rejection candle the direction will turn and it is not true.
great video. I'm assuming it works better on highter timeframes like 60 and above?
Great price action sir tq learn a lot
Awesome video. Make so much sense. Thanks
Thank you. I grew my account today 12% today using this strategy on 4h timeframe. It's absolutely amazing. Also when I started, if I would have seen that pinbar like the one you showed toward the end, I would have immediately placed a short! Not any more!
Hi, do you see any difference in wicks in different time frames? A wick in a 60 min candle can show a good figure in a lower timeframe.
Excellent video man! Very very nice.
great info for beginners. thanks
very powerful stuff, recently i realized of this kind of operative trough wicks and structure only, the difference is between the the sky and the earth, my percent of acertivity has increase exponentialy, thanks for sharing!
thank you!
that's exactly what I've been thinking for the past few weeks now before that, I was misled to believe large wicks are signs of reversals, because of textbook courses. Now I know it's the total opposite of what we've all been taught of the market.
I'm glad we both woke up before it was too late.
@@tyriqcharles7276 FR man Stupid textbook teachings
line chart with "markers" are super helpful
Good sound advice!
Just what I was looking for
Thanks for sharing knowledgeable video’s
Very deep . Thanks
More powerful help thank you
This year has been so good to me, first, i was lead to discover a wonderful mentor *Dmitry Vladislav* who taught me his *Blended Model Strategy* which i have been using to make thousands of dollars daily, we have been achieving a lot here in Sweden and thanks to trading candlestick Wicks. if you need a strategy you can rely Find the *Blended Model Strategy* right now on the internet for more information.
Thank you
very useful advise
Can this technique be also applied on all asset classes? Thanks for this wonderful video...
It can be applied.
Informing video
Thanks.
Yes
Great video! Only one question, you have mentioned that you need to look for more confirmation than just one wick. Could you give some examples of what other confirmations we should be looking for to confirm? Thank you very much.
I imagine things like multiple wicks behaving the same, as well as indicators like MACD or RSI for example confirming a likely possible movement hinted to by the wicks and support/resistance levels. Then again Im new to trading myself and might well be wrong, so Im always eager to hear from others. :)
Hail, I'm using *Blended Model Strategy* , it works very well, it's not possible to operate with the RSI indicator. but I easily operate with this strategy created by *Dmitry Vladislav* i'm earning €995 to €1050 per day with her. you can find out be searching him on Google plus.
Thanks
Well explained Bro♥️🙏🙌
Thank you 🙂
This analysis is very important while trading silver.
Glad you liked the video :)
No. No. No... Three hits off the low @3:11 established a so called support in which breakout traders placed pending sell orders and people buying long placed stops. In one nice sweet move the the longs were stopped out, while the breakout short traders were activated, and also stopped out. With all that nice fresh liquidity, the market went on about its merry way....the end ....
Do you think that is purposely done?
@@MrTwat144 yeah bro
nice
Love you❤😘 rolf sir
Knowledge is power 👏.Would this mean that there is a high probability that the market would go bear? In the middle of the range is where all the minor support & resistance levels are, so trading in the middle means that any trades placed will be trading back into a bunch of minor levels that will have to be worked through for price to to get anywhere. Traders need to be looking at the highs and lows of the range to be making their trades. The reason for this is the middle of the range is where price is doing the most whipsawing and chopping around increasing the likelihood of the trade being stopped out...I lean more from Lukasz Wilhelm, developer of IQD Momentum strategy.
I call that long wick candlestick the big hanging man at the resistance level.
It also meant that its a supply zone.
How to identity the wick will be filled or it will become rejection ?
You never know in advance. Traders don't predict
❤
So many traders claiming to be the best out there, honestly i am tired of trading with all these quacks.
Trading has been really tough for me
I highly recommend Mr Edwin Earl, he is definitely the finest out there at the moment
please can you tell me how he conducts his business? I need to know how reliable he is. how good is he?
I came in contact with Mr Edwin 3 months ago because he was willing to trade with new investors like me. He has been a blessing to me ever since.
Nice video suggested for me
the wicks can "Clear the WAY"
You mean they clean the Longs und traps short breakout Traders ;)