FX.co ★ Trading tips for NZD/CHF

Good day, traders!

Since 2021, NZD/CHF has slipped by 12,000 pips with small pullbacks and has approached the 2022 low, putting pressure on it. This means that a price increase is possible if traders follow this strategy:

After breaking through 0.55, set a grid of buy limits in increments of 500 pips. Take profit upon the breakdown of 0.70800, or after a movement from the first order.

This method is called grid trading, which is usually used on cross rates. It involves holding positions that are significant in time and distance. For that reason, it is recommended to use 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 that could be as much as 6,000 pips.

Good luck in trading and don't forget to control the risks! Have a nice day.