Past Setups with Scratchicloud Indicator On AU Daily.

FX:AUDUSD   Australian Dollar / U.S. Dollar
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This is an example of how the daily range can be traded using the SC             indicator. SC             is a pivot point based S&R indicator. It simply allows you to see the immediate price pivots inside a specific range of candles.

I have labeled this chart with break downs, break outs and range positions. Inside range pivots high to low can be traded with your normal indicators (if you are still using them).

Breaks are to be traded immediately. Do not wait for the candle close. Always remember to use your emergency protective stops so we don't experience CHF type events against us.
Hey! I find it really hard to view the notes on the graph. Do you mind numbers them with notes in the text or, maybe letting me know how people see it? I can't see to see any full screen or anything, and zooming doesn't do enough! My eyes aren't that bad....maybe i'm colour blind lol
Interesting thoughts. One major hurdle that I do not understand (yet :) is - if you immediately trade a break of the SC indicator, without waiting for a close above/below, then what trailing stop (take profit/sell loss) are you using after the break-out? Since that would also need to be a very quick one, in order to prevent numerous profitable position ending in losses after all. Can you pls explain where you place your trading stops ? Thx!
+1 Reply
SuddenFX JohnLaw
I usually will set my entrance stop at previous candle low and once the price moves in my favor I will move the stop to break even +1 after say 5 pips to lock in profits.
+1 Reply
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