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คือกลยุทธ์การเทรดประเภทหนึ่งที่เทรดเดอร์ใช้คำศัพท์เฉพาะ นิยาม และความหมายที่กำหนดไว้ล่วงหน้า เพื่อช่วยในการตัดสินใจด้วยข้อมูล โดยมักอ้างอิงคำศัพท์ในวงการการเงิน ตัวเลข และเครื่องมือวิเคราะห์ต่างๆ เพื่อวิเคราะห์ตลาดและวางกลยุทธ์ได้อย่างมีประสิทธิภาพมากขึ้น

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Camarilla Pivot Points

A set of intraday support and resistance levels developed by bond trader Nick Scott in 1989 from the high, low, and close of the previous session. The Camarilla method produces eight levels, four resistance levels ( R1 through R4 ) and four support levels ( S1 through S4 ). The Camarilla method uses a proprietary multiplier that brings the levels closer together than classical pivot calculations, based on the observation by Scott that markets have a strong tendency to revert to the prior close.

In practice, the key levels are R3, R4, S3, and S4. The theory is that in regular sessions, price generally oscillates between S3 and R3, making those levels useful for mean-reversion entries. If price breaks above R4 or below S4, then the model assumes that it’s a real breakout, and the momentum will follow through. It’s a signal to trade in the direction of the breakout and not to fade it.

Camarilla pivots are popular with short-term Intraday traders and scalpers of liquid futures and forex pairs.

Example: A day trader of EUR/USD calculates Camarilla levels every morning from the previous session’s data. Price opens near the midpoint, drifts toward S3. The trader buys, looking for a reversion to the previous close. Price obliges, making their way through the mid-level by noon. The trade closes before the US session opens. Camarilla textbook mean-reversion mechanics.

Cambist

A specialist in foreign exchange markets and international monetary transactions. It is an old term which comes from the days of bill-of-exchange trading in Renaissance Europe, but it is still used, especially in formal or technical contexts, to mean someone who knows a lot about currency markets, cross-rates, and the mechanics of FX settlement and documentation.

A cambist in the classical sense was a money changer who could calculate cross-rates between currencies, understand the discount and premium structures on forward contracts, and understand the complex documentation of international trade finance. The reference book for historical exchange rates and settlement conventions was actually entitled Cambist.

The word is sometimes used in modern times in institutional FX circles to describe someone who is a currency specialist with encyclopaedic knowledge of market conventions such as settlement dates, day-count conventions, fixing methodologies, and so on, that extends beyond just trading a price. It means a craftsman’s knowledge of the plumbing of the market.

Example: A corporate treasury team that enters into a cross-currency swap in Kenyan shillings and US dollars may rely on a cambist at its banking counterparty to understand the non-deliverable forward conventions applicable to the KES, the relevant fixing benchmarks and the documentation provisions under ISDA master agreements. But getting the structure right is almost more important than the price.

Cambodian Riel (KHR)

The official currency of Cambodia issued by the National Bank of Cambodia. The riel has been used since 1980, when it was re-established after the Khmer Rouge regime abolished money altogether during its rule. Notes are from 50 to 100,000 riel; there are no coins in practical circulation. The currency code is KHR, and it is subdivided into 100 sen, but sen only theoretically exist as no sen coins have been issued.

In practice, Cambodia’s economy is highly dollarised. Other than small everyday purchases, the US dollar is accepted for almost everything. The US dollar freely interchanges with the riel. This dual-currency reality means the National Bank of Cambodia has no independent monetary policy to speak of. It cannot set interest rates meaningfully when the dominant transactional currency of the economy is controlled from Washington.

The riel is quoted at around 4,000 to 4,100 to the dollar, and has been remarkably stable in that range for decades, more due to dollarisation than active management.

Example: A tourist in Phnom Penh pays for a meal at a restaurant that costs $12 in dollars, and gets back change partly in dollars and partly in riel at the local rate. The riel works nicely as the petty-cash infrastructure of a dollar economy, suitable for amounts too small to break a dollar bill and rarely used for anything larger.

Canadian dollar

Legal tender in Canada, issued by the Bank of Canada and subdivided into 100 cents. The ISO code is CAD; the symbol is $ or C$ when disambiguating from the US dollar. It is also known as the loonie among the currency traders.

Canada operates a floating exchange rate, though the Bank of Canada indirectly influences it by setting the policy rate. Two main forces drive the behavior of the currency, and these include the economy of the US (Canada exports about 75% of its exports south of the border, so USD/CAD is not really a bilateral rate; it is more of a proxy of how much Canada is dependent on the American demand) and commodity prices mainly oil and metals.

The Canadian dollar will perform better in a global risk-on environment and during commodity supercycles, and worse in a global risk-on environment that is also experiencing a commodity supercycle. The combination of that is not frequent but vicious when it occurs.

Example: The Canadian dollar rising during the 2003-2008 commodity boom to a value just over one US dollar was the first time in 30 years that the Canadian dollar had exceeded one US dollar, powered by oil over 140, powerful metals demanded by China, and a weak US dollar. The parity moment topped the front page of Canadian news. To the FX traders, the crude chart had been telegraphing that it would happen in two years.

Canadian Dollar (CAD)

Canada’s official currency, which is issued by the Bank of Canada, is divided into 100 cents. Known universally as the loonie among traders, after the common loon on the one-dollar coin. The standard quote is USD/CAD, dollars per loonie. So, a rising rate means a weaker Canadian dollar. The opposite is true for most major pairs where USD is the second currency.

CAD is a textbook commodity currency. Canada’s export mix is dominated by crude oil, natural gas, lumber, and metals, so the loonie has a well-documented, persistent positive correlation with oil prices. Energy markets rally, USD/CAD usually falls (loonie strengthens). When crude goes down, so does the loonie. For energy market traders, it can be risky to ignore the FX leg.

The US-Canada trade relationship is so dominant. Around 75% of Canadian exports go south of the border. That USD/CAD also serves as a proxy for relative US-Canada economic performance. A slowing US economy hits Canadian export revenues quicker than almost any other transmission channel.

Example: During the oil price collapse of 2014-2016, USD/CAD moved from around 1.06 to 1.46. The loonie moved lower with mechanical reliability for every dollar crude fell. Macro traders who caught the oil breakdown early and played it through CAD shorts were able to play a multi-year trend in a more liquid instrument than oil futures themselves.

Candlestick Chart

A price chart which shows four points of data (one per time period): the open, high, low, and close. The thick body of the candle represents the open-to-close range, and the thin wicks above and below show the high and low. A green (or white) body indicates that close was higher; a red (or black) body indicates that close was lower. And that is all that there is of the structure.

Candlesticks were used in 18th-century Japan by rice merchants to monitor commodity prices. They are usually attributed to Munehisa Homma’s development. They were introduced to Western financial markets in the 1990s by Steve Nison and have since replaced bar charts as the dominant chart type on most trading platforms.

It is not the candle by itself that is valuable, but rather the connection between the successive candles. Efforts to interpret buying and selling pressure using candlestick patterns include the doji, hammer, engulfing, and morning star. It is controversial whether the patterns have predictive power. It is more difficult to refute the fact that they summarise the psychological battle between buyers and sellers during each session.

Example: A weekly candlestick on the Nifty 50 with a small body near the top of a very long lower wick is known as a hammer. The wick shows the sellers had a hard push on the price downward during the week; the close near the high shows the buyers had a hard push on the price downward. Traders interpreted this as a possible reversal indicator when it occurs after a long-term decline and on high volume.

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