FX.co ★ Trading tips for NZD/CHF

NZD/CHF has been decreasing since last year. It lost as much as 6,000 pips and has broken through the June low as of today. This scenario points at a potential correction in the pair.

So, starting from the current prices, traders should place buy limit orders, with an increment of 500 pips. Take profit on a breakdown, either at 1 pip above the first order or after a 1,000 pip movement.

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 $1,000 of the deposit), and monitoring price movements.

Good luck and have a nice day! Don't forget to control the risks!