Discover the power of the Camarilla Levels indicator for NinjaTrader on the NQ emini

Discover the power of the Camarilla Levels indicator for NinjaTrader on the NQ emini

In this video, I demonstrate the power of the Camarilla levels indicator on NinjaTrader and in particular with regard to the Nasdaq NQ Emini futures contract which continues to lead the other US markets higher, but for how much longer?

00:10

Focus on Camarillo Levels for Trading

00:10

The speaker begins by referencing David’s analysis focusing on the ‘yank you’ levels, explaining that while David doesn’t display these levels on his chart, it’s not due to a lack of usage. Instead, the speaker emphasizes a preference for using Camarillo levels, which they have developed for trading and can be applied across various markets. The current struggle of the NQ market is attributed to these specific intraday levels.

00:47

Index Struggles at S4 Level

00:47

The speaker discusses price behavior around the fourth support level (S4) on a 10-minute chart, noting that the price often struggles at this level. It typically tests, breaks through, and then retests this level multiple times. The speaker also mentions switching to a 60-minute chart to examine a longer timeframe and ensure there are enough days displayed for analysis.

01:23

Confluence of S4 on Multiple Timeframes

01:23

The speaker discusses a 100-day timeframe and highlights a confluence involving the S4 level on both charts, which is unusual because the daily level remains valid for the entire week, unlike intraday levels that reset. They note that the price is attempting to reverse after a steep decline, emphasizing the importance of the S4 level as a potential support area where the market could find stability.

01:59

Volume Concerns Underlying Price Moves

01:59

The speaker discusses the challenges of the r4 level, noting that while it can sometimes move higher, the volume supporting the price increase is weak. They emphasize the importance of genuine buying interest to sustain price moves and suggest that whether it is possible to trade depends on the trader’s timeframe.

02:34

Trading Fast Charts and Methodology

02:34

The speaker explains that if you are trading on a very fast chart and aim to capture small gains such as a few points or pips, then this trading methodology is worthwhile. It is versatile and can be applied across various markets, including spot Forex. The speaker also addresses a common question about spot Forex, clarifying that there is no central exchange and discussing the implications of volume reporting in this decentralized market.

03:07

Spot Forex Volume and Broker Data

03:07

The segment explains a typical MT5 chart, highlighting that the volume shown is provided by the broker but actually sourced from liquidity in the interbank market. Brokers aggregate this feed and pay fees for it, which is then reflected on the chart. An example using a ten-minute chart is shown to illustrate how the volume appears, emphasizing that it does not represent 100% of the total market volume.

03:49

Indicators: VP8, Accumulation & Distribution

03:49

The speaker explains that despite the lack of a centralized exchange, the VP8 methodology is still applicable. They mention a recent positive movement in the cable market and discuss key analysis tools such as the VPA, price action, volume, support and resistance levels. Additionally, they highlight the development of proprietary indicators, including a camera indicator and an accumulation and distribution indicator.

04:27

Nasdaq’s Struggle Amid Economic Fears

04:27

The segment discusses the challenging market conditions, highlighting the Nasdaq’s struggle to climb higher amid rapid and intense downward moves. It touches on the economic impact of the virus, including widespread unemployment and global economic damage. Despite the turmoil, the importance of focusing on chart patterns rather than narratives is emphasized, with a brief mention of analyzing the pound Canadian on a one-minute chart.

05:35

Pound Canadian Reversal Setup

05:35

The speaker analyzes a chart focusing on a key resistance level at 71 and a support level at S2 on the 60-minute timeframe. They note that the price has struggled to break past 71, which aligns with an accumulation and distribution indicator that has acted as resistance eight times. Observing the 60-minute chart, the potential for a reversal was indicated by the price hitting the S2 level and the 71 level representing an intraday resistance (R4). This setup led to a two-bar reversal signal visible on the Renko chart, suggesting a likely price pullback after attempting to move higher.

06:50

Renko Chart Shows Move and Reversal

06:50

The speaker analyzes a long time base chart showing a move higher followed by a congestion phase. They mention the use of a camera ruler feature available on the Renko version of NinjaTrader, which is not available on NTN24 5. The analysis highlights multiple resistance levels across time frames where price was pausing and unable to break through. A reversal occurred after these attempts, with some green bricks and blue dots indicating failed rises.

07:25

Support Levels and Volume Price Analysis

07:25

The trend monitor remains persistently red, indicating a continuing downward trend toward a strong support level around 70/30 repai levels. Various tools such as candle patterns and multiple timeframe analysis can be combined across different charts to gain clarity. Utilizing volume and price analysis is crucial to confirm the authenticity of chart signals. The goal is to identify genuine market movements, removing emotional bias from trading decisions. Emotions should work in favor of traders rather than against them, avoiding manipulation often seen in the market.

08:34

Trading Emotions and Market Manipulation

08:34

The speaker invites listeners to ask questions either through the chat box or via email, providing contact details for themselves and David. They then pass the presentation over to David.

By Anna Coulling – creator of volume price analysis