mortdiggiddy
Education

The Power of Camarilla Pivots

FX:EURUSD   Euro / U.S. Dollar
1909 views
25
2018 has been a marvelous year of range between the R3 and S3 Year Camarilla pivots for multiple instruments including metals, currencies, and indices.

This is the busiest chart I will show and for a reason.


I only buy gold 2X per year, the seasonal July top in the equity market (July 22 on average) and December 15 after the 4th Quarter Fed announcement.

  • 2013 Neckline shown
  • Schiff pitchfork that perfectly fits the current weekly data
  • Gold range for 2018 has been near perfect CAM ( Camarilla ) R3 to S3. This is classic CAM strategy.
  • MFI (top indicator) oversold
  • Larry Connors RSI and RSI-2 at bottom oversold

DXY


  • Top is just under the Year Pivot and Year CAM R3.
  • Top is near the midline of major weekly pitchfork guiding the current trend.
  • Bottom for the year is near exactly Year CAM S3.

USDCHF

False breakout for USDCHF .

  • Bottom of the year was Year CAM S4
  • Top is Year CAM R3

EURUSD

Main Chart window.

  • 2018 Top is Year CAM R3
  • 2018 Bottom is Year CAM S3

GBPUSD


  • 2018 Bottom was 2 pips off Year CAM S3 and Year Pivot
  • The fact that the Pivot and S3 are so close together makes for huge support

What does all of this mean? I trade Camarilla pivots probably 50% of the time, and the general rule of them when you witness a Level 3 to Level 3 movement, whether that be Day, Week, Month, Year Pivots , is that we revert to the previous period close. This would mean that by the end of the year, we revert to the 2017 close for all of these instruments. I can show countless examples of this.

Final thing, the SPX 20 Year Seasonal, which we are following to a T for the month of July. On average DXY tops in July with stocks. I closed my ES futures long positions this week as we just hit the 78.6% Retracement target again, as well as Year CAM R3.

SPX500 looks like it is making a perfect Gartley top with an inner zig-zag completed by an impulse wave. As much as I don’t like to listen to the pundits out there calling for danger, it feels like a 1987 style October is coming this year. I suspect that will kick the above chart of SPX futures down to the Year CAM S4 near 2420.00, but that is my personal pipe dream.


Comment: One more chart... XAUEUR. This shows the top for the year at Year CAM R3 and potentially more downside as EUR increases in strength against Gold.
Comment: Yet another chart while I was looking this morning... Dow Jones Futures.
Comment: Type in Dow futures above, the top label should be 'Year CAM R3', not 'Year CAM S3'.
Comment: XAUEUR

Comments

@mortdiggiddy I'm only learning to trade. You've brought Camarilla pivots to my attention. I thank you for that. Would you mind a couple of questions?
1. Do broken resistances (supports) become supports (resistances) when price gets back to them?
2. Are you aware of any indicators allowing to plot several C-pivots simultaneously (like weekly and monthly in one indicator) - 'cause I'm limited to 3 indicators only.
Thank you.
+1 Reply
Thanks a lot for the post. I am following you also on ST and was puzzled a bit byt cams, etc. But now all is clear, thanks again!
Reply
@mortdiggiddy ... Thanks for the Great analysis...

I'm Learning more and more about the value of CAMs from your charts everyday...

-----------------------

I do have a quick question: For the 1st DXY chart...



...why did you set your pitchfork at Mar-2015 (in YELLOW) instead of the equal (and more recent) swing-high at Dec-2015 (in BLUE)..?

(see snapshot below for details)



Any thoughts/feedback would be greatly appreciated...!


...$Buddha...



Reply
mortdiggiddy DollarBuddha
@DollarBuddha, No reason beyond the fact that I liked that the bottom rail of the pitchfork lined up with the current low set earlier this year, but you are correct using classic pitchforks this is the way that you would do it.
Reply
mortdiggiddy DollarBuddha
@DollarBuddha, There is an even larger trend at work for DXY, that we may see unfold in the next 10 years.
Reply
DollarBuddha mortdiggiddy
@mortdiggiddy, VERY interesting snapshot..!

Thanks again for the feedback and (wider) POV.

We'll have to continue this discussion in 3-5 years as events unfold...
Reply
Great post, thanks.
Reply
I've been waiting for this.. Nice post :)
Reply
Thanks for sharing
Reply
Nice post!
Very educational with lots of good examples. Thank you.
Reply
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