Backtesting and trading camarilla pivots

[jatayoo]

I applied the method to RELIANCE today.
The results are as in the chart attatched.
i have observed that "RIL ON 10 MIN SCALE :-- The Camarilla works in combination with the RSI and candles. The short was suggested by the DCC ( candle no 5) followed by a weak pullback in candle no 6.Thus short on candle no 7 a pip below 1336.00 the L-3. Buy back at point Y on the RSI A PIP ABOVE L-4 at 1326.00. Reverse to long and sell at point Z of the RSI. About 50 points are traded for a keen eye 55 points possible."
COMMENTS ABOUT THE CORRECTNESS WELCOME PL.

 

[jatayoo]

EDUCOMP was also traded.
My analysis after the close of the market is :--
"EDUCOMP on the 3 min TF : The L-4 is retested and the retest fails at 1245 hrs. A bullish engulf gives the entry point. The rising KST supports.I found the RSI to be choppy, hence the rising slope of the KST gives the trend. As soon as the slope of the KST dips get lost. Monday shall be another day to live. 55 points trade."
Comments are welcome so that I can understand area's of error.PL.

 

[rajendrani]

I applied the method to RELIANCE today.
The results are as in the chart attatched.
i have observed that "RIL ON 10 MIN SCALE :-- The Camarilla works in combination with the RSI and candles. The short was suggested by the DCC ( candle no 5) followed by a weak pullback in candle no 6.Thus short on candle no 7 a pip below 1336.00 the L-3. Buy back at point Y on the RSI A PIP ABOVE L-4 at 1326.00. Reverse to long and sell at point Z of the RSI. About 50 points are traded for a keen eye 55 points possible."
COMMENTS ABOUT THE CORRECTNESS WELCOME PL.

I am not very good with the rsi and other technical stuff, if you can please throw some more light on how we can combine the camarilla and other technical thing, then it will be helpful

Regards,
rajendrani

 

[rajendrani]

EDUCOMP was also traded.
My analysis after the close of the market is :--
"EDUCOMP on the 3 min TF : The L-4 is retested and the retest fails at 1245 hrs. A bullish engulf gives the entry point. The rising KST supports.I found the RSI to be choppy, hence the rising slope of the KST gives the trend. As soon as the slope of the KST dips get lost. Monday shall be another day to live. 55 points trade."
Comments are welcome so that I can understand area's of error.PL.

Very well said about the bullish engulf giving the entry point.

 

[rajendrani]

Today nifty chart..

uthuman

Today's Bank nifty 5mts chart

uthuman

Thanks uthuman for your charts, if you can pleas also mark as the L1,L2,L3,L4 AND H1,H2,H3,H4 that would be really great to understand at what level are we and also point the long/short entry and the reversal, that would be really helpful.

Thanks and regards,
rajendrani

 

[jatayoo]

I am not very good with the rsi and other technical stuff, if you can please throw some more light on how we can combine the camarilla and other technical thing, then it will be helpful

Regards,
rajendrani

hi
It's simple really,
First, plot your camirilla levels that have been worked out at the start of the day.
Next, use a momentum indicator that you comprehend very well.It may be the RSI, KST, that is a smoothed version of RSI, or stochastics.Spend this week end on the Net and read everything about RSI, KST, Stochastics.Then practise practice and practise until you are comfortable with one of them.
Finally, read the candles or the bar charts. I find the candles to be very reliable indicator by itself.If you do not understand candle stick charts then read the classic by Steve Nisson.At times combining candlesticks with volume is sufficient and a double confirmation with a momentum indicator settles the issue. :thumb::thumb::thumb:

 

[rajendrani]

 

[casoni]

Hello,
I have few doubts.. we should trade on which SCENERIO ?? [ there are 4 scenerios].attatching chart + afl.
green digit1 = buy as per scenerio 1
orange digit1 = sell as per scenerio 1 ............
i am confused ..
please help to make this system better
Thank you

 

[pkamalesh]

Hi casoni..Im also learning this but lemme try helping u out on this...See there are 4 levels on each side...adn in ur chart we actually opened at/below the L3 level..nce this happens our immediate target would near/at L4..Once L4 is achieved and if u see a bounce u catch that for a target of L3 initially...when L3 is taken out on the upside we can move our stops for longs to the next upper level..I guess this worked ATLEAST for yesterday...just described as my undertanding of tradin this method...Waiting for urs and rajendra's inputs..

 

[pakatil]

L3 breached, but not L4.
Long at L3 on the upward breach, with SAR at L4.
Reversed to Shorts when L4 was breached, with SAR at L3.
Reversed to Longs when L3 was again breached.
Missed H3 by 4 pts and squared at EOD at 2805.

Cheers