The Z Pattern

Kasravi,

May I ask why you are looking to short the GBP currency pairs in question? There seems to be a possibility of long patterns forming of the 4hr charts!

Ron

Hi Ron,

Hope you’re doing well.

Based on my market profiling method. I speculate that the sterling will drop hard.
Gbp/Aud alone dropped over 300 pips since our 2h ZP yesterday. There was real money to be made.

Best

Kasravi,

Im well thanks I hope you are doing good. Ironically I have entered a long Z pattern trade with the GBPJPY below. This is contrary to your speculation on the GBP dropping, Could you advise on what market speculation you are suggesting in order to foresee the fall of the sterling?


Best
Roni

Thanks I’m good. My comment goes back to the beginning of the week. The drop already happened. I’m not heavily biased anymore. You’re trade looks juicy. I might look for reasons to go long against the yen too.

Best

I did take a calculated risk with this trade as its out of the recommended UK/US trading sessions!

Fingers crossed!

BEst

I’m going to join you on this one if the price moves up and triggers my entry.

Good luck,
Hector


Same here I’m with you guys. Good luck :slight_smile:

My stop was hit. Damn it

Not looking like a great week so far :rolleyes:

I got stopped as well. Let’s just keep finding those patterns and as long as we win more than half of our trades, we will be ok. That is why we look for good R/R trades.

I think only Z pattern trades taken in the UK/US sessions are worth putting your money on the line for. As advised by Kasravi and another senior member. So trades taken after 8pm GMT time, which marks the close of the US session here in England, are likely to be detrimental to your trading account.

How do you guys feel about that?

Best
ROn

Hi Ron,

Well, it’s in the rules and I stick to it.

Works OK.

If it ain’t broke, don’t fix it.

However, you’ll find NY session finishes at 10pm UK time.

Ideally stick to London market hours.

Cheers

Same here :frowning:
I was away from home when I placed this trade using my mobile app instead of pulling out my laptop, being lazy (again). Besides the trade being in the off hours, something didn’t look right with the ZP. I chalked it up to looking at a small mobile screen. Upon later seeing my regular charts on my laptop, it clearly did not meet my critical and would have been a pass for me. The top and bottom points of the ZP on my charts were not sloping in the same direction. One going up, the other down. As I like them close to perfect as possible, and given the time of the trade, this should have been a pass. But I didn’t so I paid the price :frowning:


That’s where most of the trading and money takes place, so I would have to agree. Although, I’m wondering if trading the correct pairs during the Sydney/Tokyo overlap period would be fruitful at all.

If you have the right anticipation. It may very well be an option.

Best

USD/CHF 4H



We keep getting signals on this pair which drags prices both ways. While usd/chf haven’t been able to clear the 0.96 area with confidence, yet. This Setup could catalyze the process. Note that we’re not in a major trading session, which could add to the risk.

Best

Kasravi,

I saw this too but this trade was formed outside the recommended UK/US trading sessions. Please clarify… Thanks.

I rephrase, the potential outcome of this [B]trade idea[/B] is with added risk(since we’re not in a major trading session).

Best

Ok, So do we consider trades outside the Major trading sessions?? If so why? Just realized that in most of your online posts and web posts you stress not trading outside the hours as to some of your members, so why are we considering this trade?

Best
Ron

Good Q Ron.

I have and still are suggesting that trading outside those sessions will add to your risk, as prices run thin.
To this date my best trades were within UK/US sessions as prices flow easier.

However, I never said nor hinted that ZPs in Asian sessions are invalid. They are as tradable as any other. The trick here is to identify if there is power behind the build up that created the ZP. So that price has power to swing back, so to say.

Lastly, and most importantly. I share trade ideas. I might take them, I might not. They might playout big or just go the opposite. It’s just an independent, non-commercial and friendly view. That I like to exchange with my peers and like minded friends. Like yourself.

Best

I liked the level on an earlier USD/CHF trade on 1hr that became invalid. I really like the level now, so I took this one on 4hr :51:

Just took a 4hr Z on the USDCAD that formed on Monday and is now in full swing.


Juicy risk/reward.

Best
Ron