The dollar jumped up during the US trading session yesterday, so as a result, the USD / CHF pair closed with a bullish engulfing pattern.

If you can recall the strategy we presented on October 5 , we have already tried to increase the quote from a 50% bullish daily impulse. However, we dropped it the day after.

But now, I would like to suggest again this strategy, as I’m betting on a continued rise of the USD / CHF pair in the market.


In fact, a strong three-wave pattern has already formed in the daily chart, with which wave A is the initiative seen last September. As of the moment, the market is standing at half of this initiative, and has the potential of moving upwards, towards price levels 0.63 and 0.94. However, this bullish idea will be canceled if the quote drops below 0.905.

Nonetheless, the profitability of this approach is 2 to 1.

Good luck!

The material has been provided by InstaForex Company –

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.