Trading Nifty with Camarilla Pivots...!

[linkon7]

thanks Linkon,

On a 15-min chart, you have selected the last candle of yesterday... why..?

In other words, on which bar do we take the retracements... is it WRBs, or daily bar to get next day's retracement or what else...???

Are these levels are TF specific..?

we selected the last candle of yesterday to include the range of today. If i select present day's first bar and the first bar has the High of the day, then it will be omitted from the range on calculation...

 

[linkon7]

Entry Long :

Condition 1 : When BBtop (20,2.25) and BBtop(20,1) is flat

Wait for : Price to pierce the BB and CCI to hook and slope upwards.

SL : Low of the bar that pierced the BB





Condition 2: When BBtop (20,2.25) and BBtop(20,1) is sloping upwards (angle greater than 30 degrees)

Wait for : CCI to come down and make a hook and turn upwards.

SL : BB of the opposite BBbot (20,1)



Condition 3: When BBtop (20,2.25) and BBtop(20,1) is sloping downwards (angle greater than 30 degrees)

Wait for : the slope to flatten out and watch out for divergence in CCI.

SL : Lowest point in CCI acts at the SL (indicator based SL)

Note : Never attempt a counter trend trade (without divergence) as it will give very little profit and will hit SL most of the time.

 

[linkon7]

Entry Short :

Condition 1 : When BBtop (20,2.25) and BBtop(20,1) is flat

Wait for : Price to pierce the BB and CCI to hook and slope downwards.

SL : High of the bar that pierced the BB



Condition 2: When BBtop (20,2.25) and BBtop(20,1) is sloping downwards (angle greater than 30 degrees)

Wait for : CCI to come up and make a hook and turn downwards.

SL : BB of the opposite BBbot (20,1)



Condition 3: When BBtop (20,2.25) and BBtop(20,1) is sloping upwards (angle greater than 30 degrees)

Wait for : the slope to flatten out and watch out for divergence in CCI.

SL : highest point in CCI acts at the SL (indicator based SL)

Note : Never attempt a counter trend trade as it will give very little profit and will hit SL most of the time.

 

[veekay304]

Linkon,

thanks for sharing this.. while I do always inclined towards trend trading and failed breakouts/breakdowns trading, counter trading is something I am always skeptical about, particularly CCI (reverse/regular) divergence...

Most time it is highly confusing to identify whether to take top TL or Bottom TL and how to distinguish between regular and reverse divergences...

Also, I've been observing a good number of failed CCI divergences..

Your advise..

 

[veekay304]

hmm... chudail ithana sara kaam karti hai... Tho kehna padega "I love you chudail..." :lol:

 

[linkon7]

Linkon,

thanks for sharing this.. while I do always inclined towards trend trading and failed breakouts/breakdowns trading, counter trading is something I am always skeptical about, particularly CCI (reverse/regular) divergence...

Most time it is highly confusing to identify whether to take top TL or Bottom TL and how to distinguish between regular and reverse divergences...

Also, I've been observing a good number of failed CCI divergences..

Your advise..

70-80% of the time you wont get a trend. And 2010 is supposed to be the year of TA, since market valuations dont dictate much upside or downside.

Volatility will remain low and trend trading will require a lot of patience. Counter trend trading has a very low strike rate, but risk reward ratio is excellent. with proper money management, it can provide us our daily bread and butter.

Either you wait on the sidelines or take what ever little market gives u .... Your call...

 

[SREENAN]

great Linkon.....
What are these techniques.......you use BB and CCI only.....or did I miss out on something
Sreenan

 

[linkon7]

great Linkon.....
What are these techniques.......you use BB and CCI only.....or did I miss out on something
Sreenan

U nailed it on the head. Just plain simple BB and CCI...! nothing more...!

 

[bandlab2]

Entry Long :

Condition 1 : When BBtop (20,2.25) and BBtop(20,1) is flat

Wait for : Price to pierce the BB and CCI to hook and slope upwards.

SL : Low of the bar that pierced the BB





Condition 2: When BBtop (20,2.25) and BBtop(20,1) is sloping upwards (angle greater than 30 degrees)

Wait for : CCI to come down and make a hook and turn upwards.

SL : BB of the opposite BBbot (20,1)



Condition 3: When BBtop (20,2.25) and BBtop(20,1) is sloping downwards (angle greater than 30 degrees)

Wait for : the slope to flatten out and watch out for divergence in CCI.

SL : Lowest point in CCI acts at the SL (indicator based SL)

Note : Never attempt a counter trend trade (without divergence) as it will give very little profit and will hit SL most of the time.

thanks linkon. do we need to interpret this strategy within camerilla levels H3,H4 and L3, L4 ? Or these are independant strategies

 

[linkon7]

thanks linkon. do we need to interpret this strategy within camerilla levels H3,H4 and L3, L4 ? Or these are independant strategies

Its a independent strategy. But between "H3 and H4" or "L3 and L4" is where the cream of the whole day's trade lies. Thats the high probability low risk zone.

We never look to short above H4 and never look to buy below L4. Above L3, we look for buy signals and below H3 we look for sell signals.

Between H3 and L3 is a no action zone.

Cams give us the direction. This gives us entry and SL. Cams give us the exit levels.