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The Bard FX Compensation Play (aka No Wick Strategy) is a trend-following intraday trading system built around identifying "no wick" candles—candles that open and move immediately in one direction without leaving a wick on one side. Traders first identify the trend using market structure, then wait for a no-wick candle to form and enter on a retest within nine candles.
The strategy emphasizes simplicity through a mechanical entry model while relying heavily on trade filtering and invalidations to improve results. Key filters include avoiding major US news events, skipping setups formed at structural swing highs or lows, and avoiding trades where significant imbalances exist beyond the stop loss. Additional confluences such as support and resistance levels can improve trade quality. Risk management is straightforward, using a stop loss beyond recent structure with a small buffer and a standard 1:1 risk-to-reward target.
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