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Camarilla Pivot Points

Correlation Divergence - GBP/NZD vs GBP/AUDOkay, so today we have a potential correlation divergence trade. As the chart shows, GBP/NZD formed a lower low at Yearly Camarilla S3 Support, but GBP/AUD formed a flat double bottom. Why is this significant? Basically, because these two pairs are highly positively correlated - 90% on a Daily AND Monthly time frame. What one does, the other is pretty much guaranteed to follow. Given that we now have the pairs doing something different, that means we have a correlation divergence. Specifically, we're looking to long GBP/NZD. Correlation divergences are great, and pretty straightforward, trades to make. You take two highly correlated pairs (can do negatively correlated, but positive is easier to visualise on a chart), and look for instances when they start moving differently. I prefer to look at correlations on a higher time frame than I'm actually trading, as this allows you to then jump down to a lower time frame and identify short-term correlation divergences that you can then reliably trade upon. It's simple, but it works. As for potential long targets, there are a few options. Either the previous low at 1.87300ish (4July19) if we're looking at a trend continuation downwards. Or, if this is a proper reversal pattern, we can aim for the resistance zone in the vicinity of 1.911 - 1.919 (the latter is also a Yearly Camarilla Pivot). Hopefully this works out, but nothing is guaranteed. Don't ignore your stop loss, R/R ratio, and trade management knowledge. See the related idea below for more information about correlation trades, and why the AUD and NZD are so closely correlated. Any queries, let me know. DD
Long
by DreamsDefined
USD/CHF - Potential LONG entry on break of H4/WEEKLY inverse H&SFinally seeing some price action to break the long awaited break of a weekly and H4 inverse head and shoulder. The head of the H4 inverse head and shoulder is the right shoulder of the weekly inverse H&S. 1st target is CAM S5 and a major resistance fractal. If this chart helped at all, leave a like or follow. I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA. DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA. Good luck to everyone!
Long
by pjgonzales
USD/CAD - LONG entry for the possible continued up-trendUS Dollar hit this week from the Brexit headlines but now has a great entry to continue the re-test of previous highs. Have a tight stop loss so we can find another entry later when Brexit dies down (hopefully..) Bullish Confluences: - Possible bounce from 38.2% fib retracement - Price is on the neck-line of the inverse head and shoulder - Possible failed breakout of CAM S4 - On a major resistance fractal area Watch out for strong stop hunts because of the upcoming Brexit news tonight and tomorrow. Target is CAM S5 again as shown on the chart. If this chart helped at all, leave a like or follow. I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA. DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA. Good luck to everyone!
Long
by pjgonzales
USD/CAD - Incoming BULLISH trend-reversal to re-test highsI have been looking for the bottom on this pair since the oil rally for the potential rise back up to re-test the highs. Although I've successfully swing traded this pair, I have been unsuccessful on finding the proper bullish view for the re-test to the highs. Bullish Confluences: - Double bottom - Potential inverse head and shoulder on D1/H4 - Trend-reversal on new bottom If the price does break out of the new bottom created today, then I will be further bearish on this pair and will stop posting USD/CAD for awhile until the reversal actually occurs. If this chart helped at all, leave a like or follow. I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA. DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA. Good luck to everyone!
Long
by pjgonzales
USD/CAD - Possible LONG entry for a bounce or bullish breakout.Looking for a bounce at this very heavy support, also a bullish divergence on 4H. 1st target will be a little bit after CAM R4. If this chart helped at all, leave a like or follow. I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA. DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA. Good luck to everyone!
Long
by pjgonzales
USD/JPY view for this week, possible BEARISH breakoutRising Wedge on H1 was created last week and finally broke out today and bounced to a major resistance zone . Watch price action for possible bullish breakout or drop to S3 pivot . My view is short term sell scalp until S3 pivot and will closely watch the price action along that pivot . If this chart helped at all, leave a like or follow. I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA. DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA. Good luck to everyone!
Short
by pjgonzales
USD/CHF - Potential SHORT entry for daily head and shoulderLooking for a pull back tomorrow for NFP and then maybe a long entry as shown on the chart. Bearish confirmations: - Bounced off weekly S4 pivot - Bounced off head and shoulder neckline - Looking for a right shoulder to create for the daily inverse and shoulder that is forming on the daily timeframe If this chart helped at all, leave a like or follow. I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA. DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA. Good luck to everyone!
Short
by pjgonzales
BTC pivot point based long ideaI use Camarilla and fib Pivot points for day trading but this is my first time using it on daily/weekly timeframe.I am buying BITFINEX:BTCUSD now with a stop just below S4 yearly cam pivot at 2800$ to try and avoid potential wicks.The 2014 S1 fib at about 190$ proved to be a good entry before the rally to the yearly Pivot in November 2015.My first target is cam S3 at about 8400 only because it is the next pivot point. I will revise the target once new Pivot points form in 2019.
BITFINEX:BTCUSDLong
by lamzy254
2
EUR/USD - Possible LONG Entry for 1.150 RetestI am expecting a big pullback on DXY 0.68% before the december rate hike which means a re-test again of 1.150 for EURUSD -0.01% . I will be waiting for a pullback to CAM S3 before putting a long entry. Targets are CAM R3 or 1.150. If this chart helped at all, leave a like or follow. I would love any feedback/advice about my chart to correct any of my mistakes and learn more about TA. DISCLAIMER: Not a financial advisor, I don't suggest using my ideas for your own as I am a complete amateur for TA. Good luck to everyone! ** Text bubble top right says 1.50, but I meant 1.150.
Long
by pjgonzales
Camarillas pivots from start to last day montly candles BTC USDThe Camarilla pivots, are based on highest , lowest prices, and open & close price of market. In this case, btc, Lowest price( 2.00) and highest price(20000.00) of geral charts of prices btc, and closing & opening, im baseading in last month, JUNE, that are>>> Open=>> 7490.00 Close=>> 6380.00 (monthly candles) with resultings, in black lines support, resistances , represents camarilla on charts tv! The suports and resistances on Black lines, are marked with simbols; resistances>> R4 R3 R2 R1, and suport simbols>>> S1 S2 S3 S4. with this parameters>>> High=> 20.000.00 Low=> 2.00 Close=>7380 Open=>7490; and the result of math calcules camarilla are:=>>> R1=> 18.378.90 R2=> 12.879.45 R3=> 11.046.30 R4=> 9.213.15 S1=> 5.546.85 S2=> 3.713.45 S3=> 1880.50 S4=> -3.618.90>>>( S4 has a problem, but i substitute himm for >>> FAKE S4* IS>>TRUST RESULT FOR S4>>> (S4= -3618.90) X (R4=18378.90) =*** 66.511***)
BITSTAMP:BTCUSD
by EvertonSamartinGarrido