Posted by sschulman on 20th of May 2012 at 03:26 pm
Hi CarrieG
Cam levels are just one more variation on how to calculate
support and resistance levels, ie pivot points. This site explains
it
http://www.camarillaequation.com/ .
But the idea about pivot points is that the market will either
stop there or go through. If the market goes through, it's less
likely to stop going until it reaches the next one.
Trouble is, 1) pivot points aren't exact,
they're really described as ranges, and 2) there are SO many
of them. In my experience they're not particulary useful in and of
themselves. However, if they help you to determine your stops
and your profit points, then that discipline itself is useful,
regardless of where the points actually are.
Thanks, Susan, for the website. It was a good explanation,
although it did cause me to pause when they termed it as
"surefirething". I've never found any "sure fire" thing in
trading! Like you, I use pivots as only one part of my
stop/profit exit analysis.
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Cam levels and pivot points
What are Cam Levels?
Posted by sschulman on 20th of May 2012 at 03:26 pm
Hi CarrieG
Cam levels are just one more variation on how to calculate support and resistance levels, ie pivot points. This site explains it http://www.camarillaequation.com/ .
But the idea about pivot points is that the market will either stop there or go through. If the market goes through, it's less likely to stop going until it reaches the next one.
Trouble is, 1) pivot points aren't exact, they're really described as ranges, and 2) there are SO many of them. In my experience they're not particulary useful in and of themselves. However, if they help you to determine your stops and your profit points, then that discipline itself is useful, regardless of where the points actually are.
.....Susan
Thanks, Susan, for the website.
Posted by carrieg on 20th of May 2012 at 08:08 pm
Thanks, Susan, for the website. It was a good explanation, although it did cause me to pause when they termed it as "surefirething". I've never found any "sure fire" thing in trading! Like you, I use pivots as only one part of my stop/profit exit analysis.