Would be fantastic if you could post a chart.
Z Patterns are all over the charts no matter what instrument you are trading or timeframe.
It really comes down to enter setups at the right time in order to come out profitable.
Best
EUR/USD&USDCHF Recap;
We discussed this setup two weeks ago and with a R:R of 1:10 it it is still strong in play.
Around the same time there was a Z Pattern on Usd/Chf;
As anticipated price on this pair crumbled and gave us a mind blowing R:R of 1:23! so far. Trade management suggests to take some money off the table and let the rest run.
Z Patterns are notorious at extreme price pitches and it is a trader’s duty to catch them when they come along.
Best
How often do they occur on a weekly basis?
Hi Kasravi,
I dont see the Z pattern fit in the channel on the H4 chart on the USDCHF…?? am i missing something
I posted the 4h chart for easy viewing. The intial Z Pattern was on the 17th of june 30m usd/chf. Also commented on it here.
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From backtesting the system I think you would get 2-3 setups a month… or is this wrong? Also you have to keep watching all time frames hourly for the pattern which could be time consuming but nonetheless I think its a system with lots of potential!!
All Kasravi, Should you wait until the Z fits the channel perfectly and then trade it?
Hwllo I am new in this thread and trying to find some Z patterns and I think I have found one care to check this please?
this is on USD/CHF Daily TF.
Hi anis,
Yes that is a correct Z Pattern.
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I’d say about 5-10 quality setups a month is fair, to expect with this pattern. This could highly fluctuate depending on the timeframes you work with.
To your second question, yes you want a neat channel.
Best
Hi there,
So would you have entry at .88779, sl at .88563 and tp at .89564?
Hi Kasravi,
I just started following your thread and have a few questions;
Do you look for the Z pattern at your key levels of s/r and trade those only? Long at support and short at resistance?
Do you then look at a PA, such as a pinbar, BEEB or BUEB to double-confirm entry at all? If not, how come you also follow Jonathon Fox’ thread, or is that a completely different and separate strategy?
I wouldn’t enter this Setup. Simply because it is on the daily charts. And daily candles are not fast enough to let the Z Pattern edge playout.
Best
It helps your anticipation a lot to draw out these levels and then wait for the right Setup.
Pinbars are fantastic confluences with the Z Pattern and are def. not ignored but not required. My contribution to Johno’s thread and method is because of the friendly and supportive environment he created over there.
Best
Sorry, I don’t trade this pair. But looking at your chart it seems to be a neat Z Pattern.
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Just about a 1:2 ratio before you get stopped out!
Good stuff, so how any pairs do you follow and which ones are your most ‘profitable’ ones?
Do you find this strategy more profitable than the rubber band trade strategy?