Hi Yves,
It really doesn’t matter how many candles it takes, I saw that one but never took it. The reason was because the break in the middle doesn’t look like the one shown in the 3 first examples . It is too close to the channel lines.
I took the one on the 4th of september.
Indeed I would be grateful if you could zoom in and maybe take the grid in the background away too.
Thank you very much, looking forward to see more charts from you.
Cheers
CAD/JPY 4hr 7th October '13
That is a live setup I’m currently playing. I placed my orders as marked above.
Z Patterns are very rare on other pairs. Once they are confirmed and completely in tune with the types outlined in the first few posts of thss thread,they prove to be very reliable.
However if the low of the pattern gets taken out before we get triggered , then we will delete our orders.
Cheers
CAD/JPY 4hr Z pattern Recap
Buy Stops got triggered at the high of the last candle of the pattern . Price managed to spike TP with a few pips to spare.
Don’t hesitate to ask any questions as I know this concept is new to many.But I assure you it is very easy to understand and to follow.
I wish everyone the very best of luck and success.
Cheers
AUD/JPY 1hr 8th October
The 1hr chart has a much higher risk involved than the 4hr. Therefore it is very important that a trader is completely familiar with this pattern. More practice brings more experience.
The above chart is a live setup I am playing at the moment. Levels are marked and as visible the high of the last candle of the pattern was my entry point.
Cheers
Hi Kasravi,
I am following your thread with great attention. I would love to participate more but I don’t really have much time at the moment and there are now several good threads going on.
I just have a request. When you post your setups, would it be possible to add the line chart as well at least in the beginning until we get the concept more solidly ?
Thanks,
Yves
Hi Yves,
I appreciate your interest. This thread is fundamentally different from the other ones you might follow. Here we are going back to BASICS.
Looking at raw price movement on the line chart to spot the z pattern. Which eliminates all subjective analysis,over analysis or miss predictions that some traders might have.
I wish you all the best.
Cheers
Hi Kasravi,
I understand, that is why I thought it would be great if you could always include the line chart with the drawing so that we can see what you originally spotted before moving to candlesticks
Yves
AUD/JPY 1HR Trade Recap
Price made a sharp move after Entry was hit and retraced all the way back. Falling a few pips short of our initial TP. However Aud/Jpy managed to climb back up and push through our TP and far beyond.
The relevant line chart.
Notice the top and bottom of the ‘‘Z’’. This example is part of the patterns taught in the beginning of this thread. I strongly advice that one should get accustomed with them in order to be able to spot them on the charts.
I wish you all the very best of luck and success.
Cheers
Nzd/Jpy 1hr 8th Oct '13
This is a setup that I was going to play but as the candle chart below shows the low of the pattern was taken out,which invalidates the setup.
Good luck.
Cheers
Hey man:
I’m following you!. I don’t have too much time at the working hours but my homework is read your thread at night. Don’t stop positing your charts. It is pure gold! I wish this could be used on daily time frame.
Cheers.
Hi Mario,
Thanks for your kind words.
I’m afraid I never had much success trading that pattern on the daily. It is more suited for intraday trading. Doesn’t mean you can’t profit from it.
I wish you the very best of luck and success.
Cheers
Hi mario777,
Indeed it is a Z pattern, I was going to post this one and the Z pattern on the Usd/Chf 4hr .
Unfortunately the low has been taken out already,therefore I won’t be trading it. I deleted my orders.
(the high on the usd/chf pattern has been taken out too)
Well spotted though, keep posting.
Cheers
Sometimes we wait for a pattern to form and place our stops. Right after it the high or low gets taken out and we delete our orders. This means the market is not ready to reverse yet. Hence we do this to be on the safer side.
Picking the identical looking Z pattern types and following the Entry and Exit rules is KEY in order to trade it. Here are the 3 main Z pattern types again:
Z Pattern trading is not subjective,there is only one way to identify and trade it. Thus it suits any type of trader whether seasoned or novice, given one can maintain personal discipline.
Cheers
Hi Kas:
I’m sitting at the airport waiting and reading your posts.
One question: the “Z pattern” is based on some harmonic pattern? Have you used those harmonic?
Best Regards,
i
Hi Mario,
Hope you are flying somewhere nice. Yeah I know the harmonic patterns and no it has got nothing to do with it.
Where as the harmonic patterns are based on several retracement calculations , the Z Pattern is solely a reversal indication within intraday movements. Moreover it is based on 4 closing prices (top and bottom of the Z) which if in proportion could mean that market movers are in full control and are engineering those movements. And finally getting ready to reverse the market. That is why,and now listen, most the time the Z pattern has a huge bullish or bearish candle in it and/or a pinbar at the end, simply because money movers were faking the market.
Cheers
NZD/USD 4hr Z Pattern 11th OCT. '13
I wasn’t trading on Friday but that Z Pattern on the Kiwi was a perfect example. Price has broken the low of the last candle of the Z Pattern and is continuing to move lower. Here is the relevant line chart below:
The 4hr chart presents the very best examples of the Pattern, thus creating high possibility trades.
I wish everyone the very best of luck and success.
Cheers.
Nice one! Next week I will watch carefully and hopefully trade my first one!
Kasravi, how did you managed this one? seems it hit your SL. Im also now buy on Gold 4H. A little bit late entry though.
