FX.co ★ Trading idea for the USD/CHF pair

Betting on a rise in the USD / CHF pair, the strategy that was presented last October 5 was to open long positions after a false breakout from 0.91600.

Plan:

However, the third wave of purchases did not emerge, thus, the upward movement from the pivot did not happen:

This cancels the upward scenario forecasted last week, thereby making long positions irrelevant.

In addition, in this case, the strategy should best be changed from Price Action into Grid Trading.

Grid trading is a classic technique of setting positions at regular intervals to target gains instead of stopping loss. It's good for gaining profit amid this fluctuating market.

Good luck!