SuddenFX

Past Setups with Scratchicloud Indicator On AU Daily.

FX:AUDUSD   Australian Dollar/U.S. Dollar
316 3 9
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.
SuddenFX is a privately held and managed foreign exchange trading company based in Houston, Texas. We are not a licensed broker. These charts and ideas are for educational purposes and not advice. Disclaimer: http://www.suddenfx.com/disclaimer/
JohnLaw
2 years ago
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
2 years ago
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
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
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out