Good morning,
And I hope you are all well.
I had a question on this line if possible and my apologies if Im asking a silly question.
I just wondered why you drew your point 1 where you did and not at the top of pattern. What I mean is, how did you determine point 1 when it seems to start higher…to my eyes at least 
Was there a kink at point 1 which differentiates it from the part where I have marked?
I appreciate your reply.
Have a great weekend
Padraic
Hi Brutus,
Unfortunately what you spotted is nothing like a Z pattern. You might want to refer to the first page and the outlined
pattern types. Moreover I’ve noticed you marked SL at the top of the last bar where a safer play is to leave it on top
of the pattern.
Hope that helps
Cheers
Hi Padraic,
Good morning to you too!
No your question is not silly at all.
When I look for patterns I look essentially for fractals with 3 movement lines. That means in that case point 1-2 was mirrored by point 3-4, that’s why they fit in the channel so neatly. That is when you’ll see the letter Z too.
Gradually you’ll go and only hunt for Zs and verify them through putting them in a channel.
Hope that made sense.
Cheers
Note: in that example points were not in proportion .
Good morning,
Thank you so much for your feedback 
I really appreciate it.
I plan to put this method to use and hopefully put up some charts in the coming days.
Thanks again,
Padraic
Cad/Jpy 4hr Z
The Canadian dollar had a pullback from it’s strong up momentum against the yen. Presenting a z pattern in such
a situation on Friday was a golden opportunity.
Relevant line chart
Most traders might be comfortable to only trade EUR/USD ,which is totally fine. Intraday trading with different pairs
is not conventional if your broker doesn’t offer reasonable spreads or you are not familiar with it’s price movements.
The best way to come out profitable is to trade pairs,situations and setups that one is accustomed to.
I wish all a successful trading week.
Cheers
Nice post! I’ve never traded the cad/nzd, would have to familiarize myself with its historical movement and behaviours. Thanks for the tip! New to the forum, have a great week!
Hey Kasravi … I’ve been experimenting with line charts as of late and been hunting price patterns relevant to line charts. Checking out the Z-pattern … will be posting some results from my tests! Do you recommend time frames for using the Z-pattern? like long-term charts possibly?
Hi smartpipping,
I suggest 4hr and 8hr charts and preferably EUR/USD pair. Other time frames and pairs come with a lot of IFs and WHENs.
That’s why I would suggest playing it simple for a start.
I wish you the best and looking forward for some charts.
Cheers
Good evening,
I wondered if this might be a valid pattern.
Its on GBP/JPY and the lines seem to fit quite well:
Happy Monday
Padraic
Hi again,
One point to add is that the 4 hour candle is still 1 hour and 20 minutes from completion.
Patience Irish man, patience 
Good evening,
One further question if I may?
Does it make a difference to use a 5 versus a 6 day candle week?
I have both and I see significant differences.
Thanks,
Padraic
Good evening Padraic,
Very well spotted, unfortunately the setup has missed to touch the channel on my charts.
Here is what I’ve got on GBP/jpy 4hr chart
Otherwise I would have been all over it. That said If it fits on your charts and you see an opportunity to jump
on the up momentum then by all means take it. But if you want to play it safe you’d let that one go.
Cheers
Good question.
You’d see a difference if you’d play the daily charts,otherwise I recommend having one or two different brokers to compare
the intraday charts.
Hope that helps.
Cheers
Good evening,
Yes that helps alot.
Thanks a million for this feeback and also for sharing this method.
I really like it and Im gonna keep sharing.
Have a great evening,
Padraic
Wow, well spotted,
I completely missed that one while looking at the more recent Z
Practice is key I think.
Take care,
Padraic
Thanks looking forward.
Wish you the best.
Cheers
usd/chf 1hr Live ‘Z’ Setup
A Z Pattern has emerged on the 1hr chart. Entry and stops are as marked on the chart above. And if in any case
price breaks below the low of the pattern , then the setup gets invalidated.
Relevant line chart
This current setup doesn’t cover a huge pip span. However it does give us an opportunity to catch the lenght of
the pattern itself.
I wish all the best.
Cheers
Gbp/Usd 6hr Invalid Z
Price did not fully manage to present us with a quality setup. As shown in the charts below.
Relevant Line chart
As it is visible the break in the middle of the pattern was not contained in the channel lines and is not in
line with the example pattern type to the right. Which leaves us with a low quality Z Pattern.
It is crucial that the patterns emerge completely unified. Not for aesthetic reasons, but in order to verify that the
move that led to the pattern was a controled one.
I wish all the best.
Cheers
Usd/Chf 1hr Live Setup Recap
After Entry got triggered price waited for the Us open to make it’s move. Usd/Chf managed to climb further past
our initial TP flawlessly.
I wish all the best.
Cheers
