Trend and momentum

Trend pullback to the 20 EMA

15m

The rules, in plain English. Ask Wicky “Is my setup here?” and it checks each one on your chart, says what’s still missing, and draws your levels.

The rules

Trend: price above a rising 50 EMA for longs (below a falling one for shorts).
Pullback: price comes back to touch or slightly pierce the 20 EMA.
Trigger: a bullish rejection candle at the 20 EMA (hammer or engulfing).
Entry: above the high of the trigger candle.
Stop: below the pullback's swing low.
Target: the recent swing high, or 2R.
Skip it if price has chopped back and forth through the 50 EMA recently.
On the chart: the 20 and 50 EMAs visible.

Try this setup on your chart ›Wicky for Mac

How Wicky checks it

Hold ⌃⌥ over your chart and ask. Wicky reads the chart on your screen, on any platform, and checks every rule above, starting with “Trend: price above a rising 50 EMA for longs (below a falling one for shorts)”. Then it answers out loud: not yet, and what you’re still waiting for, or your entry, stop and target with the risk-to-reward, drawn on your chart and locked to it as you scroll.

Trade it a little differently? Change any rule, or write your own in plain English. Wicky checks your version, not a textbook’s.

Wicky checks your own rules. It doesn’t tell you to buy or sell, doesn’t predict price and never places trades. Trading involves substantial risk of loss. ICT and Smart Money Concepts are named to describe setups; Wicky isn’t affiliated with their authors.