STRATEGY NAME – The Wick Hunter
CHARTING PLATFORM – MT4
FOR USE ON – Forex
FILE PACK TO DOWNLOAD – CLICK HERE
EXPERT ADVISOR FOR THIS STRATEGY? – No
The WickZone / Wick Hunting strategy by Lee is an elegantly simple forex strategy suitable for anyone who wants to accumulate a large amount of pips in a short amount of time. The simplicity of this strategy means it is suitable for new traders with little or no trading experience.
The WickZone / Wick Hunting strategy is based on taking advantage of a price retracement within a single H1 candle. It is so called because we are looking for candles with long wicks and then aiming to TP – take our profit – in the area between the candle body and the top of the wick – The “WickZone”. We are aiming to gain a minimum of 20 pips with each trade, more often, between 20-50 pips can easily be gained.
The beauty of this strategy is that you can wash, rinse and repeat the cycle throughout your trading day and gain a large amount of pips. Lee, who devised this strategy has gained in excess of 1000 pips in a single day in the WickZone and many Slick Trade members are quickly replicating his results. We have seen an unheard of win rate of up to 98% making this a low risk high probability trade. As always we recommend you use proper money management and demo until you are comfortable an in profit.
Just a heads up guys.. The WickZone works well as we see… but if you really want to be safer using it..Do it with the Semaforce rules….it is a powerful combination…. I have learned to make less trades this way..for more pip$…
INDICATORS –
- Semafor sun
- Heiken Ashi candles
- 20 Day Moving Average
- KG Support and Resistance
- Ferrufx trend strength indicator
RULES –
1. Use H1 or H4 timeframe on any currency pair
2. You are looking for a candle with a decent length wick (20+ pips)
3. You are looking for price to retrace 20+ pips back to where the wick joins the body of the candle.
4. Place your SL – stop loss – 10 pips above previous resistance (for a SELL) or 10 pips below previous support (for a BUY).
4. Draw in your TP line at the end/tip of the wick
5. Place your buy/sell order with an opening price that is BETWEEN the current price (which should now be at the candle body end of the wick) and your TP (which is at the end or tip of the wick).
6. Your opening price should be placed close to the current price. Remember, you are looking for at least 20+ pips per trade.