Strong bullish pattern - "the Camel's Head!" (KISS) | Forex Factory

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Strong bullish pattern - "the Camel's Head!" (KISS)

  • #1
  • First Post: Edited 9:37pm May 8, 2009 9:26pm | Edited 9:37pm
OK people,

A lot of trading success is based on commonly repeated patterns (Triple Crowns, double tops/ bottoms, ascending triangles etc...)

I am not sure if this is an existing pattern or not, but I personally refer to it as "The Camel's Head"

As a picture tells a 1000 words, I have included 3 to illustrate my point!!

If you think I am from the planet crazy or if you think I am on to something please feel free to share your thoughts.

What would be great also, is if you can see other instances of this please feel free to post them here and share with everybody.

This pattern might be an already well established pattern, but I personally have not seen it before!!!

On the first graph, I have placed the entry in line with the "bridle", but another good entry point is when the price has moved to the "ears"

Hope it helps
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Camel_Pattern.jpg Size: 151 KB
Click to Enlarge Name: Camels Head 1.jpg Size: 149 KB
Click to Enlarge Name: Camels Head 2.jpg Size: 150 KB
  • #2
  • Edited 11:34pm May 8, 2009 11:21pm | Edited 11:34pm
Yes I think you're on to something.

However, I am personally looking for "The Camel Toe" instead.

If I find it, on a chart or elsewhere, or anywhere for that matter,
I want to examine and study it up close, as close as possible.

I include one example for scholastic purposes only:
Attached Image (click to enlarge)
Click to Enlarge Name: cameltoe.png Size: 396 KB
  • #3
  • May 8, 2009 11:27pm May 8, 2009 11:27pm
Quoting toshi
Yes I think you're on to something.

However, I am personally looking for "The Camel Toe" instead.

If I find it, on a chart or elsewhere, or anywhere for that matter,
I want to examine and study it up close, as close as possible.

I include one example for scholastic purposes only:

what type of study does this fall under???lol
  • #4
  • May 8, 2009 11:38pm May 8, 2009 11:38pm
Quoting winningfx
what type of study does this fall under???lol
This is only one example, of course. What we see here is a VERY TIGHT contracting channel.

On these, I usually use a fibonooky retracement to measure the movement.
  • #5
  • May 8, 2009 11:45pm May 8, 2009 11:45pm
Btw: have any of you ever traded this pair before ?

Some brokers offer it, most don't.

If not, you can do a synthetic pair by going long or short the Euro
and then trade the opposite for that other thing, effectively having a EUR/TWAT position.

It's not interest positive, but it trends for extended periods of time.
  • #6
  • May 8, 2009 11:56pm May 8, 2009 11:56pm
ROF LMFAO
  • #7
  • May 8, 2009 11:59pm May 8, 2009 11:59pm
Here you go,

This is what I'm trying to show you.

Fibonooky retracements are quite easy to spot after you've seen them awhile.

Take a look:
Attached Image (click to enlarge)
Click to Enlarge Name: cameltoe_fib.png Size: 377 KB
  • #8
  • May 9, 2009 12:10am May 9, 2009 12:10am


Quoting toshi
Here you go,

This is what I'm trying to show you.

Fibonooky retracements are quite easy to spot after you've seen them awhile.

Take a look:
Less is more...
  • #9
  • May 9, 2009 1:16am May 9, 2009 1:16am
Quoting toshi
Here you go,

This is what I'm trying to show you.

Fibonooky retracements are quite easy to spot after you've seen them awhile.

Take a look:
Questionnnn... !?
What would happen when S&R break...?
  • #10
  • May 9, 2009 3:33am May 9, 2009 3:33am
Quoting toshi
Here you go,

This is what I'm trying to show you.

Fibonooky retracements are quite easy to spot after you've seen them awhile.

Take a look:
In my experience it pays to identify the standard deviation channel, and apply a momentum oscillator with directional movement. It's also advisable to check historical volatility before you enter...
  • #11
  • May 9, 2009 7:35am May 9, 2009 7:35am
Quoting toshi
This is only one example, of course. What we see here is a VERY TIGHT contracting channel.

On these, I usually use a fibonooky retracement to measure the movement.

as the 3 lines r very distinct i think bollinger bands is more suitable as the lines can curve or slope abit. but as u say, it's contracting now. but watch out 4 any major news n sudden spikes. as it would cause the bb or channel to widen considerably.lol

let's respect the thread starter n return this thread 2 him. hope u don't mind us having a little fun, psgm. thanks
  • #12
  • May 9, 2009 7:44am May 9, 2009 7:44am
Quoting toshi
Here you go,

This is what I'm trying to show you.

Fibonooky retracements are quite easy to spot after you've seen them awhile.

Take a look:
This one will require a sizable account to deal with.
  • #13
  • May 9, 2009 8:13am May 9, 2009 8:13am
I once went long a pair like that (looks like EUR/DKK), broke resistance quite easy, forgot all abt the position, but turned out as a margin call 9 months after...


Quoting toshi
Here you go,

This is what I'm trying to show you.

Fibonooky retracements are quite easy to spot after you've seen them awhile.

Take a look:
Less is more...
  • #14
  • Last Post: May 9, 2009 9:44am May 9, 2009 9:44am
Quoting winningfx
as the 3 lines r very distinct i think bollinger bands is more suitable as the lines can curve or slope abit. but as u say, it's contracting now. but watch out 4 any major news n sudden spikes. as it would cause the bb or channel to widen considerably.lol

let's respect the thread starter n return this thread 2 him. hope u don't mind us having a little fun, psgm. thanks

No probs WinningFX, I presume these people decided I hadn't thought about that BEFORE I posted this article. I myself mentioned that in my other post KISS (KEEP IT SIMPLE STUPID) method.

Still if it helps one more person to become more profitable in their trading - then my work here is done.

If anyone else sees examples of what I was describing then please post it.

As for the other type of post, well surely there are better forums for that.

To be honest I cannot codemn, but I certainly wont condone. If I see any more of the others, well then fair play - then there is no point in me maintaining this thread and, so its up to you guys. If you think it could GENUINELY be of use to anyone, please let it get back to what it was originally intended for!!!

Thanks in advance
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