The Z Pattern

[Kasravi]

@whatthedeal

Hi Kasravi

concerning the two trades (EURGBP 4hr & AUDNZD 4hr) that you put up above, I too was tracking the trades yesterday. However, i opted out of placing any trades on them because the price was either just short(in case of AUDNZD) and just long(in case of EURGBP) of the channel lines.

How strict must we be when we line up the price with the channel lines?

First of all welcome to this thread!

How much short or long (miss to hit or cross over the channel) price has to be. In order to be invalidate. Is sometimes tricky, when the difference is just a hair. I invalidate setups that have significant differences. The picture you posted above is just in the green.

Best

[whatthedeal]

Thank you for your answer.

I was also wondering which FX company that you trade with. I only ask seeing that your chart and mine seem to be off by small margins.

cheers.

[roni25]

@Kasravi

I can imagine that this is very frustrating for you. It seems to me that you are picking up patterns that are not inline with any sort of anticipation, thus are not working out for you. In addition to that some of your ZPs I cannot see on my own charts. In other words they’re not valid.

But back to my first point anticipation. Last week I commented on a couple of pairs that I’m looking for signals on. And when things come together they sure do magic. Have a look at these everyone;

Eur/Cad

Eur/Gbp

Aud/Nzd


Which was a good option too.

These were valid and profitable Z Pattern Setups.

As a last note. I go through my charts every night. and pre plan positions that I’m looking to trade. I take notes of important signals and to where they might drive the price. I have tons of arrows over my charts to remind me the next day where I anticipate price to move. I can rely on my anticipations, thanks to my experience,but I don’t always catch a signal to trade them. Which is alright. Eventually it always comes all together!

Best

All setups were valid on my charts. Secondly on your ZFX website you dont mention to wait for anticipation of the price direction, its just stated how to trade the patterns and what to look out for which is what I am doing and failing as of late.

Could you shed some light on what you mean by ‘anticipation’ and ‘signals’…

[Kasravi]

Thank you for your answer.

I was also wondering which FX company that you trade with. I only ask seeing that your chart and mine seem to be off by small margins.

cheers.

I use Alpari UK MT-5

Best

[Kasravi]

All setups were valid on my charts. Secondly on your ZFX website you dont mention to wait for anticipation of the price direction, its just stated how to trade the patterns and what to look out for which is what I am doing and failing as of late.

Could you shed some light on what you mean by ‘anticipation’ and ‘signals’…

Have a look on the top article on ZFX Trading page. It’s called Boost Winrate. It surely will help a lot.

Best

[Sparatacus]

Stalking a 1hour Z pattern on the NZD/USD; just waiting for hour to finish. If set-up comes to fruition SL at .8405ish, 1st TP .8380 with the hope of some more downside. Trading with daily/4hour down trend and near the 00 psych level. R/R isn’t great but if price continues downside will be nice. Hoping to get in at .8395-8400. Cheers.

[Sparatacus]

Order filled at .8397 here we go!

[Sparatacus]

Well I got stopped out so -10 pips. Looking at EUR/USD now!

I don’t know if I should have but I reentered short NZD/USD trade at 8403 and got 15 pips hehe as had small pinbar on smaller timeframe and price turned just above the stop!

[roni25]

Have a look on the top article on ZFX Trading page. It’s called Boost Winrate. It surely will help a lot.

Best

Kasravi,

Just read that article, explaining Z methods on head n shoulder patterns and picking Z patterns at tops and bottoms. So do you suggest only trading on these parameters? Or still trade anywhere on the chart with the trend… regards

[Andrew08]

I’m using MACD and RSI to back up signals, as well as 00 levels and pin bars etc. Does anyone have any useful tips when using the above indicators with the ZP?

Cheers,

[Kasravi]

Kasravi,

Just read that article, explaining Z methods on head n shoulder patterns and picking Z patterns at tops and bottoms. So do you suggest only trading on these parameters? Or still trade anywhere on the chart with the trend… regards

Certainly, start off with these parameters and become consistent. That’s the goal.

best

[Kasravi]

I’m using MACD and RSI to back up signals, as well as 00 levels and pin bars etc. Does anyone have any useful tips when using the above indicators with the ZP?

Cheers,

Anything that helps you understand where price on the chart stands is valid. Remember Z Patterns are signals to turn price around into the direction we anticipate.

Best

[roni25]

Any setups this week? Been fairly quite for me. Ive decided to trade Z pattern from support and resistance lines.

[Sparatacus]

I will be hunting them today, back home now so heres hoping. Will post something later. How about you Roni, you spotted anything?

[roni25]

I will be hunting them today, back home now so heres hoping. Will post something later. How about you Roni, you spotted anything?

Nothing so far, Currently stalking the eurusd chart coming up to a strong support level…

Anything on your end?

[Kasravi]

Hi folks,

Been busy working on a project,which hasn’t quite lifted off yet. But will let you know about it soon and the results that come with it.

But apart from that several trading Setups were up for grabs. (I’m currently on a different station and don’t have chart posting apps)Setup such as Gbp/Nzd 4h extended ZP yesterday, Gbp/Jpy 1h on friday and a few more.

Best

[Sparatacus]

Shorted EUR/USD 1 hr Z pattern, at 1.3180, SL 1.3190, TP 1.3160. Price moved up to 34ema, and Eur seems weak with recent down trend. Eur matrix is interesting as Eur is down against most major currencies except the USD.

Posting chart takes too much screen time away at moment

[Kasravi]

Shorted EUR/USD 1 hr Z pattern, at 1.3180, SL 1.3190, TP 1.3160. Price moved up to 34ema, and Eur seems weak with recent down trend. Eur matrix is interesting as Eur is down against most major currencies except the USD.

Posting chart takes too much screen time away at moment

Still looking good.

Currently looking to short Nzd/Jpy.
Best

[roni25]

Still looking good.

Currently looking to short Nzd/Jpy.
Best

Kasravi,

Already shorted EURJPY on the 1hr pattern I saw earlier today! Looking good so far!

[Sparatacus]

Well I got stopped out and probably should have done a trailing stop then I would have been out break even or with a small profit!

I go between having a trailing stoploss and just a set in stone one as both can work perfectly depending on price action!