USD/CHF: Waiting For Stochastic Confirmation

By Rico FY
Published: Nov 10, 2015

I found another good opportunity to trade, a BUY signal from USD/CHF pai, that shows a hidden bullish divergence on the hourly chart.

Hello traders! I just checked the chart again and I found another good opportunity to trade. Here we go!

Just like USD/JPY pair that I have written before, I recommend to BUY USDCHF pair. Exactly like USDJPY pair, I found there is hidden bullish divergence on hourly chart.

usdchf

We want to follow the trend and hidden bullish divergence gives a signal that the trend will continue. I will BUY this pair, just need to wait for the Stochastic to crossover. Put your stop loss just above the latest low, and your profit target at least twice of your stop loss (make sure it’s 1:2 risk reward ratio).

Position: BUY (wait for the confirmation)
SL & TP: around 1.0020 & 1.0085

Wait for the confirmation from the Stochastic. Be patient guys!

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Good Luck, Happy trading!
RICO FY

Rico FY

An experienced trader since 2013, I take the divergent strategy as my main approach to trade against the trend. Being a different trader is what I aim for to avoid being categorized in the 90% group of traders who fail to make money.