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| Discuss Camarilla Equation at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Please find some more theory on Camerilla from http://www.camarillaequation.com/ "The SFT Camarilla Equation produces 8 ... |
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#11
4th August 2008, 09:23 PM
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Re: Camarilla Equation
Please find some more theory on Camerilla from http://www.camarillaequation.com/
"The SFT Camarilla Equation produces 8 levels from yesterday's open, high, low and close. These levels are split into two groups, numbered 1 to 4. The pattern formed by the 8 levels is broadly symmetrical, and the most important levels are the 'L3', 'L4' and 'H3', 'H4' levels. While day trading, traders look for the market to reverse if it hits an 'L3' or 'H3' level. They would then open a position AGAINST the trend, using a stop loss somewhere before the associated 'L4' or 'H4' level. The SFT theory suggests setting stoplosses that appear to you the trader to be prudent, and to not even open the trade until it has penetrated the level in the 'right' direction, i.e. demonstrated that it has found resistance (or support). In the case of the higher H3 level, this would mean that price had already reversed and pushed back down thru the level, heading south. ================================================== ================== The second way to try day trading with the Camarilla Equation is to regard the 'H4' and 'L4' levels as 'breakout' levels - in other words to go WITH the trend if prices push thru either the H4 or L4 level. This essentially covers all the bases - Day Trading within the H3 and L3 levels enables you to capture all the wrinkles that intraday market movement throws up, and the H4 - L4 breakout plays allow the less experienced trader to capitalise on relatively low risk sharp powerful movements. I just got hold of this yesterday and started observing from today and on today's nifty levels worked really well. Here are the levels given by Camerilla pivot - H4 4517 H3 4465 H2 4448 H1 4431 L1 4396 L2 4379 L3 4362 L4 4311 Nifty took support at 4362 where as per Camerilla we shd go long with a stop somewhere between L3 and L4 depending on your appetite. A new fresh short position shd be initiated below L4 4311 intraday. I am yet to find more on this. Will share soon. Thx Abhi 
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#14
5th August 2008, 06:55 AM
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Re: Camarilla Equation
Abhi,
I have seen in 5 min / 30 min / 60 mins chart of yesterday's Nifty Fut,in my Metastock,the Low was all in between 1st & 2nd,never went to 3rd level. Are you refering EoD ,there also it never came below 2nd. Asish
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#15
5th August 2008, 07:24 AM
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Re: Camarilla Equation
Quote:
In hourly chart it would be low of 1 PM bar!!!
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#17
5th August 2008, 08:38 AM
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Re: Camarilla Equation
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#18
5th August 2008, 03:43 PM
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Re: Camarilla Equation
Quote:
Here are the levels for today 5th Aug and I am happy to say that it worked excellent today - H4 4436 Long breakout H3 4415 SHORT H2 4409 H1 4402 Pivot 4398 L1 4389 L2 4382 L3 4375 LONG L4 4355 Short breakout Now after opening Nifty took resistance at 4413 and fell few times from there which means it has respected the H3 level of 4415. After that around 12:50 pm it cracked down to 4376 and bounced back smartly. We all can see that 4375 was L3 where it recommends to go long with a SL somewhere between L3 and L4. Once it bounced back and moved in H1-H3 range one cud have shorted again at 4415 with a SL between H3 and H4 and once closed above H4 it means a BIG day trading BO for initiating longs and it worked well and above 4436 we have seen the high made of 4515.15 I think we all can observe for some more days to check the reliability of this calc. I will be posting NIFTY SPOT levels for tomorrow 6th Aug soon here. Thanks Abhi
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| The Following User Says Thank You to abhinkoi For This Useful Post: | ||
leo_3455 (5th August 2008) | ||
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#19
5th August 2008, 03:50 PM
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Re: Camarilla Equation
Quote:
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#20
5th August 2008, 06:39 PM
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NIfty Levels for 6th August
Hi All,
Please find below the levels for Nifty SPOT for 6th Aug - H4 4579 Long breakout H3 4541 SHORT H2 4528 H1 4516 Pivot 4465 L1 4490 L2 4477 L3 4465 LONG L4 4426 Short breakout Lets observe how it performs tomorrow. Thanks Abhi
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