How to trade forex using camarilla pivot
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Want to post a trade? Anyone else use Camarilla pivots for intraday trading scalping? This is my first post on this sub so I'll give a little background. I've been trading a demo account for about a year now and have had pretty decent success trading short-medium term trades on the daily and weekly charts, usually staying in a trade for no longer than 2 weeks. I don't bother using any lagging indicators or any other silly indicators that clog up the charts.
I have an econ degree, so I really do enjoy reading about fundamentals, and I definitely use that as another indicator of the long-term trend.
I've recently been looking into scalping strategies to add another dimension to my trading, and came across a few different Camarilla pivot strategies that I like.
How to Trade Camarilla Pivot Points - kysiqubonypun.web.fc2.com
For those that aren't familiar, here's a short video outlining a basic Camarilla strategy. What I like about Camarilla pivots is that it basically outlines previous short-term support and resistance levels in a very helpful way, similar to how I do it on longer-term charts. It is also quite versatile, in that you can use it to trade intraday breakouts, just as easily as you can use it to dubai stocks market an intraday range-bound market.
And once you pull up an intraday chart with Camarillas, you'll realize that price really 90 percent accurate forex indicator respect the pivot process.waitforexit example c# quite often.
I've only been using a Camarilla strategy for about two weeks now, and I've had a slight net loss using it, but I feel that I can make it profitable with a few more refinements to the strategy.
How to trade forex using camarilla pivot I use it: Use minute charts.
Money A2Z
If there is a big news release planned for the day, look to trade a breakout strategy on that pair. If not, look for a rangebound trade to occur, but don't be afraid to get into a breakout trade if price takes off in chicago board of trade historical stock price limits direction. Look for pairs that are around s3 or r3, as these are often times focal points where price either breaks through this level in a strong way, or bounces off, creating a range.
If price breaks above r3, and another closed candle confirms a move upward, enter a long trade with a target of r4, and a stop below r2. If price bounces off of r3 and another candle confirms the price is moving back down, then enter a short trade with the target being PP.
Alternatively, when prices is heading down and breaks through s3, I look to enter a short trade with a target of s4. I also trade the breakout strategy when a pair breaks above r4 or below s4but I've been burned on this when the price doesn't move at all above r4, or moves back down. I have had success trading the breakout strategy when a big news release is planned for the day though.
One thing I think could help would be to only trade in the direction of the long-term trend, although this obviously won't always predict the intraday direction of the market, and would likely cut down on the number of trades I enter into maybe this is what I need.
Any other comments on how to improve my strategy would be greatly appreciated.
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Fairly candid look into a Canadian trading firm, in minute episodes. This is an archived post.
Anyone else use Camarilla pivots for intraday trading(scalping)? : Forex
You won't be able to vote or comment. Wow, Sorry for the massive wall of text! Posts are automatically archived after 6 months.