Jan 17, 2010

How to use Camarilla Level published on my Blog

There are various scenarios that can occur

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 - 0.5% to 1%

For Short Sell
When the price goes below H3, sell. Stopless 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 - 0.5% to 1%


Scenario 4
Open price is outside the H4 and L4
Wait for the prices to come in range and trade accordingly.

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