This is just plotting two biolinger band one over the other. I use BB(2,2.25) and BB(20,1). The logic is, BBtop(20,2.25) and BBtop(20,1) makes a nice little channel and when the price is between this 2 lines, then its bullish. One can go long with stoploss at BBbot(20,1). Best trade is when the channel is rising at a angle greater than 30 degrees. when its flat, its a signal that market is going no where, better walk the dog...!
Trading Nifty with Camarilla Pivots...!
- Thread starter linkon7
- Start date
- Tags camarilla pivots cci day trading loser linkon7 nifty
Thats the best thing about range bars... it eliminates the time factor and concentrates only on price. If nifty trades for half an hour in the same small range, you wont get the next bar unless the range is broken. This eliminates a lot of whipsaws and makes indicators more reliable.
ofcourse, amibroker range bars have some inherent problems with the way it is coded and tends to be unreliable.
ofcourse, amibroker range bars have some inherent problems with the way it is coded and tends to be unreliable.
bro , glad you are back.
btw praveen sir wanted to know how were your holidays
:rofl::rofl:
btw praveen sir wanted to know how were your holidays
:rofl::rofl:
Morale of the story, never take your wife for a new year eve party and fall asleep on the beach.
HAPPY NEW YEAR TO ALL
Weekly analysis of nifty :
1. We have the narrowest range bar in weekly TF (74 points range) and that's a pointer that we can expect some big movement next week. 5229 is the high and 5155 is the low. So a break on either side can open a opportunity for us.
2. Stochastic points to a over bought levels and a minor correction is on the cards.
3. BBandtop(20,1) is placed at 5126 and BBandtop(20,2.25) is at 5325. this means that the target for the breakout of 5229 is 5325 and the stoploss the stoploss for longs on weekly timeframe is 5126.
4. 34 ema is at 4894 and thats a potential bounce back zone.
5. BBandbot(20,1) is at 4774 and unless we have a close below this, we remain in the sideways to bullish territory for the next few weeks.
6. trendline support is at 4978 and 4839.
7. cci-14 just broke previous resistance at 110 and made a new high at 131. Its a indication that momentum is still upwards.
8. regression channel points to 4954 as the next weekly support. But the angle (less than 15 degrees) of the channel is nothing to write home about.
1. We have the narrowest range bar in weekly TF (74 points range) and that's a pointer that we can expect some big movement next week. 5229 is the high and 5155 is the low. So a break on either side can open a opportunity for us.
2. Stochastic points to a over bought levels and a minor correction is on the cards.
3. BBandtop(20,1) is placed at 5126 and BBandtop(20,2.25) is at 5325. this means that the target for the breakout of 5229 is 5325 and the stoploss the stoploss for longs on weekly timeframe is 5126.
4. 34 ema is at 4894 and thats a potential bounce back zone.
5. BBandbot(20,1) is at 4774 and unless we have a close below this, we remain in the sideways to bullish territory for the next few weeks.
6. trendline support is at 4978 and 4839.
7. cci-14 just broke previous resistance at 110 and made a new high at 131. Its a indication that momentum is still upwards.
8. regression channel points to 4954 as the next weekly support. But the angle (less than 15 degrees) of the channel is nothing to write home about.
Daily TF :
9. We have a inverted hammer on the last day and the range is very narrow (37 points). This makes the LOD 5191 and the HOD 5229 as important levels for tomorrow.
10. 34 ema is at 5096 and that can be a nice bounce back zone.
11. The low of the last 4 days are as follows :
5136.4
5175
5155
5191.2
The high of the last 4 days are :
5209.95
5224.8
5198.7
5229
A break below 5136 or above 5229 is when we can go aggressive with our positions. Till then trading light will be more prudent.
12. stochk is overbought and points to a correction.
13. trendline support is at 5000. But a WW pattern seems to be forming that gives us a tgt of 4906. Ideal time to buy a 5000 put and sell 4900 put. SL at 5229.
14. regression channel points to a support of 5090 and gives us a tgt of 5321 on the upside.
15. CCI has made 5 bars above 0 and woodie says next bar above 0, is a confirmation that up trend has started. CCI has taken support at 91 and thats a level to watch.
16. fibonacci retracement gives us 5160, 5117 and 5083 as possible bounce back zones and 5290 and 5340 as possible targets.
9. We have a inverted hammer on the last day and the range is very narrow (37 points). This makes the LOD 5191 and the HOD 5229 as important levels for tomorrow.
10. 34 ema is at 5096 and that can be a nice bounce back zone.
11. The low of the last 4 days are as follows :
5136.4
5175
5155
5191.2
The high of the last 4 days are :
5209.95
5224.8
5198.7
5229
A break below 5136 or above 5229 is when we can go aggressive with our positions. Till then trading light will be more prudent.
12. stochk is overbought and points to a correction.
13. trendline support is at 5000. But a WW pattern seems to be forming that gives us a tgt of 4906. Ideal time to buy a 5000 put and sell 4900 put. SL at 5229.
14. regression channel points to a support of 5090 and gives us a tgt of 5321 on the upside.
15. CCI has made 5 bars above 0 and woodie says next bar above 0, is a confirmation that up trend has started. CCI has taken support at 91 and thats a level to watch.
16. fibonacci retracement gives us 5160, 5117 and 5083 as possible bounce back zones and 5290 and 5340 as possible targets.
Trade for Monday :
camarilla pivots for tomorrow are :
H4 : 5,223.09
H3 : 5,212.70
L3 : 5,191.91
L4 : 5,181.51
We also have yesterday's low at 5191. So a decisive break of 5181, is a good reason to go short with a tgt of 5155 and 5136 and then 5117. a break of 5090 is a good place to add more shorts for a tgt of 5000-4906. Since we have the narrowest range in the past week, we can expect a range expansion on the down side. this will later give rise to the pre budget rally that we can expect toward the mid jan to end of feb. weekly Tf gives us sufficient room to correct and still retain the bullishness.
On the upside, I would go long above 5229 only. But i would rather do a covered call by selling the 5200 call and going long on nifty.
5229 to 5191 is strictly a no trade zone for me for tomorrow.
I will buy 5000 put and sell 4900 put at the first sign of weakness.
camarilla pivots for tomorrow are :
H4 : 5,223.09
H3 : 5,212.70
L3 : 5,191.91
L4 : 5,181.51
We also have yesterday's low at 5191. So a decisive break of 5181, is a good reason to go short with a tgt of 5155 and 5136 and then 5117. a break of 5090 is a good place to add more shorts for a tgt of 5000-4906. Since we have the narrowest range in the past week, we can expect a range expansion on the down side. this will later give rise to the pre budget rally that we can expect toward the mid jan to end of feb. weekly Tf gives us sufficient room to correct and still retain the bullishness.
On the upside, I would go long above 5229 only. But i would rather do a covered call by selling the 5200 call and going long on nifty.
5229 to 5191 is strictly a no trade zone for me for tomorrow.
I will buy 5000 put and sell 4900 put at the first sign of weakness.
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