Woodpecker
Last updated
Last updated
Woodpecker is a swift intraday trading strategy of Auric which captures ongoing momentum and tries to benefit from the heat of the run.
This algo uses inputs from a three day candlestick pattern famously known as the three white soldiers and three black crows and adds a tweak to it which brings about a paradigm shift suitable for modern day markets.
These signals have stop losses below areas where momentum loses steam and based on entry prices, targets are calculated at atleast 1:2 risk reward ratio.
The signals have a final real time data filter due which signals are generated at 09.35am in the morning, just in time to grab a coffee before punching in the trade.
1. A trade must be given at least 90 minutes to span out. Hence, if markets close at 03.30pm then do not punch in trades after 2.00pm.
2. Try getting an entry near the mentioned price points.
3. Keep a strict stop loss.
4. Reduce your holding by 35-50% when target 1 is hit. Then trail the stop loss to the entry price.
5. Exit the trade at 03.20pm is neither target nor stop loss is hit.
