40-60 rule, Trader using trendline secret

Hi

I've recently been thinking about a 40 pip stop and 60 pip target and using the trendline technique to break even with a 40 pip approach

First you need to see the market's previous 100 pip move, which I use to trade gold on the 5 minute chart

I use Zig Zag for swings which is the Zig Zag Counter Indicator which may be confusing to you but once you get used to it it's fine

So what you do is, take the most recent closing price high or low and place a trend line when the closing price moves back higher or lower

and project that trendline 10 candles to the right, then connect 14 candles backwards from the 10th trendline area, and connect to the edge of the last 14 candles. This is a breakout of a sloping trendline, not a close but a breakout.

Stop loss is always 40 pips and target is always 60 pips

Attached template and indicators

Good luck

mt4