Camarilla Trading Strategies
There are 4 distinct scenarios that can occur when trading with Camarilla pivots:
Scenario 1 - Open price is between H3 and L3
Scenario 2 - Open price is between H3 and H4
Scenario 3 - Open price is between L3 and L4
Scenario 4 - Open price is outside H4 and L4
Scenario 1
Open price is between H3 and L3
For Long
Wait for the price to go below L3 and then when it moves back above L3, buy. Stoploss will be when price moves below L4. Target1 - H1, Target2 - H2, Target3 - H3
For Short Sell
Wait for the price to go above H3 and then when the price moves back below H3, sell. Stoploss will be when price moves above H4. Target1 - L1, Target2 - L2, Target3- L3
Scenario 2
Open price is between H3 and H4
For Long
When price moves above H4, buy. Stoploss when price goes below H3. Target 1 - H5, Target 2 - H6
For Short Sell
When the price goes below H3, sell. Stoploss when prices moves above H4. Target1 - L1, Target2 - L2, Target3- L3
Scenario 3
Open price is between L3 and L4
For Long
When price moves above L3, buy. Stoploss when price moves below L4. Target1 - H1, Target2 - H2, Target3 - H3
For Short Sell
When the price goes below L4, sell. Stoploss when price moves above L3. Target 1 - L5, Target 2 - L6
Scenario 4
Open price is outside the H4 and L4
Wait for the prices to come in range and trade accordingly.
This script is made using camerilla, fibo, standard pivot and this includes yesterday high and low with CPR for range finding. This script can help to find nearest support and resistance where market can take reversal or we can find targets for long and short positions, generally people have query about how to set targets. This script can give wonderful result.
Here camerilla H2 H2 and L1 L2 need not to be used for following proper camerilla setup.
Conclusion
Patience and discipline are key. Traders must wait for the levels to be reached before taking action. Once you are comfortable with trading the basic strategy, you can further experiment by combining it with SMA, EMA or the RSI to see if you can further improve your trading performance.
There are 4 distinct scenarios that can occur when trading with Camarilla pivots:
Scenario 1 - Open price is between H3 and L3
Scenario 2 - Open price is between H3 and H4
Scenario 3 - Open price is between L3 and L4
Scenario 4 - Open price is outside H4 and L4
Scenario 1
Open price is between H3 and L3
For Long
Wait for the price to go below L3 and then when it moves back above L3, buy. Stoploss will be when price moves below L4. Target1 - H1, Target2 - H2, Target3 - H3
For Short Sell
Wait for the price to go above H3 and then when the price moves back below H3, sell. Stoploss will be when price moves above H4. Target1 - L1, Target2 - L2, Target3- L3
Scenario 2
Open price is between H3 and H4
For Long
When price moves above H4, buy. Stoploss when price goes below H3. Target 1 - H5, Target 2 - H6
For Short Sell
When the price goes below H3, sell. Stoploss when prices moves above H4. Target1 - L1, Target2 - L2, Target3- L3
Scenario 3
Open price is between L3 and L4
For Long
When price moves above L3, buy. Stoploss when price moves below L4. Target1 - H1, Target2 - H2, Target3 - H3
For Short Sell
When the price goes below L4, sell. Stoploss when price moves above L3. Target 1 - L5, Target 2 - L6
Scenario 4
Open price is outside the H4 and L4
Wait for the prices to come in range and trade accordingly.
This script is made using camerilla, fibo, standard pivot and this includes yesterday high and low with CPR for range finding. This script can help to find nearest support and resistance where market can take reversal or we can find targets for long and short positions, generally people have query about how to set targets. This script can give wonderful result.
Here camerilla H2 H2 and L1 L2 need not to be used for following proper camerilla setup.
Conclusion
Patience and discipline are key. Traders must wait for the levels to be reached before taking action. Once you are comfortable with trading the basic strategy, you can further experiment by combining it with SMA, EMA or the RSI to see if you can further improve your trading performance.