TraderSamwise

TraderSamwise

Basically price attempts a breakout and retraces, then you get a stubby green candle with a bit of body and a bit of wick, and then on the following hourly you get instant selloff with almost no wick above the body

TraderSamwise

price rounds out forming a bottom with hourly doji candles. Then you get an impulse up on next hourly open with no wick. This isn't really very actionable of a pattern because you don't know what candle will do it, but it might be worth paying attention to if you see this type of bottom forming. This pattern DOES NOT indicate a true bottom.

TraderSamwise

Example on May 19, 2021. Huge selloff into 30 keks after Elon news. Perfect double wick long scalp I took on stream, but closed on hourly impulse because bias still so bearish and already spot long.

TraderSamwise

Price climbs, starts to taper off and rollover, get a small down candle with full body and minimal wick, then next hourly candle immediately reverses (or quickly takes out previous hourly low but with VERY LITTE WICK). The candle after the down candle should be very aggressive and quick. Otherwise cut.

TraderSamwise

Double Wick example on $DOGE

TraderSamwise

In a tight range, consolidation leads to small green candles. 3rd candle or so starts selling off from open, with little upside wick, then bids step in and save it, giving a long green wick and substantial candle body (usually happens close to the candle close). Next hourly open pumps. Important that candle with wick has enough of a body.

TraderSamwise

Take out stops, wick, run it back up. Stall on next hourly, usually close red, and then run that wick AGAIN with even more velocity.

TraderSamwise

Price trends up aggressively, cools off for a few candles, before a final push higher, which reverses on the following candle.