FX.co ★ Trading tips for CAD/CHF

CAD/CHF continues to storm the yearly highs. Today, it also reached a new monthly high of 0.76, which, in the framework of grid trading, calls for sell limits.

So, after the breakdown of 0.76, traders should set up a grid of sell limits in an increment of 500 pips. Take profit on a breakout, either at 1 pip above the first order or after a 1,000 pip rise.This strategy is called grid trading, which is usually used on cross rates. It involves holding positions that are significant in time and distance. For this reason, we recommend using swap-free accounts, not increasing the volumes in the grid (0.01 standard lot for every $ 1000 of the deposit) and monitor price movements.Good luck and have a nice day!