How to Trade Camerilla Pivot Points with Live Trade exampleHow to Trade Camerilla Pivot Points with Live Trade example
Keep Eye on Stop loss levels they will either work as Support/Resistance breakout or breakdown can give Explosive moves which are good level for Options Buying
Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my view.
Please consult your Financial Advisor before making any trading decision.
Camerilla
How Trade Key Trading levels - Camarilla Pivots How Trade Key Trading levels Camarilla Pivots with combination of Previous day high & Low & Close
This video is not real live trade its made on reply trade.
Disclaimer: These levels are purely based on Price action/demand and supply zones & and consumed only for educational purpose & should not be taken as buy/sell recommendation. I will not be responsible for any loss/profit incurred if anyone takes trades based on my view.
Please consult your Financial Advisor before making any trading decision.
Why Banknifty is in a RangeBanknifty is trading between a range of 37000-35750. In today's session we saw index dropping till 35750 and then reversed back to close above 36000. There are multiple Camerilla Support levels which will hold banknifty from falling, 35750 is one of them that's why index saw reversal. 37000 has been proven as a psychological resistance level, and a gap which was created between 13-18April is working as a resistance zone now. Now talking about further actions we might see prices swinging between these ranges as stated and breakout of any of these level will take index to another territory.
CAMERILLA INTRADAY TRADING SETUPCamarilla 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.