The Power of Camarilla Pivots
Updated
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.
DXY
USDCHF
False breakout for USDCHF.
EURUSD
Main Chart window.
GBPUSD
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.
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
Find the edge.
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Website: daily-edge.com
Twitter: twitter.com/dailyEdgeGroup
Youtube: youtube.com/c/TheDailyEdgeTradingGroup
Telegram: t.me/mortdiggiddy
Paypal: paypal.me/mortdiggiddy
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.