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Signals Review: Pattern Sniper

Pattern Sniper is a new service that promises to provide the most accurate Forex signals in the market. Their current offering is a 10 day trial for one dollar, which lets traders test the service from the inside before having to make a longer-term commitment. They are confident in offering a trial, because they tell the community that 90% of the traders the test their services “continue to sign up for the pro plan.”

The vendor does not provide us with any information about their company. They do not tell us who they are, where they are located or give us access to any email address or contact form. The only way to access support, is to fill out the live chat form at the bottom left of the website. The developers should certainly resolve these issues, and provide us with more transparency in this area.

Pattern Sniper Review

The creators of the Pattern Sniper believe that their service is all a trader needs in order for them to succeed in the Forex market. According to their sales page, they set themselves apart from the other Forex signal providers, by making sure that all of their trade alerts are carefully planned. Their “team of traders is continuously monitoring the market for trading opportunities.” Sadly, the developers do not introduce us to this team, so we don’t know what type of trading experience or history their analysts have in the Forex marketplace.

This group claims to offer a complete feature packed Forex system, as they provide trading signals via email “with average monthly profits of 150-300 pips.” They also include technical analysis updates twice a day, and intraday ideas sent via email which disclose their inputs on new patterns or reversal levels.

Trading Strategy

According to the sales page, the trade alert analysts utilize a proprietary technical analysis approach that rely on “specific pivot points, reversal areas, and top and bottom forecasts throughout the day.” These elements are used to determine safe and profitable trade entries throughout the day by following the market conditions that meet their expectations. This is all the detail we have about the strategy, but it’s generally more than we normally see from Forex signal providers, so it’s a plus.

The group also offers a live mentoring chat room, which may also provide more clarity and transparency into their different trading strategies.

Breakdown

  • Type: Forex Signals
  • Price: $50-$100/month
  • Strategy: Technical analysis
  • Signal Frequency: Undisclosed
  • Trading Results: Unverified/Incomplete
  • Pairs: BITCOIN, AUDUSD, EURUSD, GBPUSD, NZDUSD, USDCAD, USDJPY, AUDJPY, CADJPY, EURJPY, GBPJPY, NZDJPY, EURGBP, AUDNZD, EURCHF

There are currently three Forex signals plans available by the Pattern Sniper team. The lite version is $50 per month, the pro version is $60 per month and the expert version is $100 per month. Most of the plans are the same, with the additions being intraday alerts, and different session overviews which are sent via email.

Trading Results

The Pattern Sniper developers do provide a performance page, where they show 10 trades, with an accompanying chart, and sometimes a video as well. The chart and video both show a full breakdown of the trade, which includes an analysis of the trend, some notes, and then the trade details.

While the analysis is impressive, it’s quite clear that we aren’t getting access to the full picture. In the 10 trades provided, they are separated by an entire month. So, we aren’t to given access to all of the trades provided by this vendor, as they certainly provide more than 10 signals every month. This means that we don’t have full transparency, because the vendor is cherry picking the trade alerts that they want to report on their performance page.

This also means that they are not utilizing any statement sharing service providers like Myfxbook or FX Blue, which means their results are not verified.

Client Feedback

There is only one client review available on the Internet so far. This review is a one star, but I can’t put too much weight into just one client review so I’m not holding it against the vendor.

Uwehil on forexprotect.com says “I asked why the signals from 3 o clock comming by mail at 5 o clock. Then they said my internet is slow and not his problem and I am not competent to trade and shall be away from them and canceled my subscription. I never experienced such a social incompetent, arrogant und unprofessional behaviour in my whole live und unprofessional behaviour in my whole live. Keep away from service Pattern Sniper.”

Conclusion

I do have some interest in the Pattern Sniper signals, but I need much more information before I could consider signing up. The vendor needs to provide much more transparency in just about every single aspect of their service from who is providing the signals, to giving us access to their complete signal history. At this point in time, I have no other recourse but to provide a 2 star rating until they make the desired changes to their marketing approach.

If you’ve anything you would like to add, please leave your review now.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

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