Keep an eye on the close of this candle on NZDCHF 4H TF. if it closes ABOVE the TL then it a valid setup for a trade.
Trading Strategy: Martin Trendline
Long Trade Rules
- Candle closes above green Auto Trendline
- Three green bars on Trend Meter
- Price closes above blue Momentum line
- Make sure you are above the recent resistance and there is a gap to the next resistance.
- Place stop loss at lowest wick in 8 candles
- 1:1 RR trade to find TP
- Enter Trade
ONCE IN A TRADE - MANAGE YOUR SL in the following way:
- Enter trade
- Move stop loss to 12.5% of TP once at 25% of TP
- Move stop loss to 25% of TP once at 50% of TP
- Move stop loss to 50% of TP once at 75% of TP
- Move stop loss to 75% of TP once at 100% TP
- Trade closes if 100% TP is hit
Trading Strategy: Martin Trendline
Long Trade Rules
- Candle closes above green Auto Trendline
- Three green bars on Trend Meter
- Price closes above blue Momentum line
- Make sure you are above the recent resistance and there is a gap to the next resistance.
- Place stop loss at lowest wick in 8 candles
- 1:1 RR trade to find TP
- Enter Trade
ONCE IN A TRADE - MANAGE YOUR SL in the following way:
- Enter trade
- Move stop loss to 12.5% of TP once at 25% of TP
- Move stop loss to 25% of TP once at 50% of TP
- Move stop loss to 50% of TP once at 75% of TP
- Move stop loss to 75% of TP once at 100% TP
- Trade closes if 100% TP is hit
Trade active
the set up is good and your TP/SL should look like this Note
Get ready to update your SL to 12.5% and have a profitable trade, if you haven't already done so add the horizontal rays like i have then add an alert to each of them when you get the alert move the SLNote
Hey Guys, so you should have moved your SL to 12.5% (5 Pips) when the price hit 25% or you could have exited at 25%, well done and congrats on a winning trade
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.