Martin Lower Trendline break GBPAUD

Keep an eye on the close of this candle on GBPAUD 4H TF. if it closes below the TL then it a valid setup for a trade.

Trading Strategy: Martin Trendline

Short Trade Rules
- Candle closes below red Auto Trendline
- Three red bars on Trend Meter
- Price closes below blue Momentum line
- Make sure you are below the recent support and there is a gap to the next support.
- Place stop loss at highest wick in 8 candles
- 1:1 RR trade to find TP
- Enter Trade

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Comment:

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

Order cancelled:

Guys the candle did not close below the Trendline so it is NOT a valid trade, however if the next candle does you can still enter, just make sure there is still a gap to the support below

Comment:

Still waiting to see if price can close below the red TL with 3 red bars on the trend meter, just remember you can only take the trade on the first break of any TL but you can enter on the second candle if the first didn't have 3 red bars but the second does

Comment:

Congratulations to those of you that spotted the MMS long set up, the trade went straight to 50% before it reversed back taking you out at 25% giving you a 26.5 pip win