Goof afternoon dear traders! Let's take a look at the grid trading idea for USD/CHF.
Thus, during whole May, the dollar/franc pair was dropping. The pair lost more than 2,000 pips. At the beginning of June, it reached the level of 0.95 breaking the low logged in May.
Let's take a look at the grid trading method:
The idea is to put a grid of limit buy orders every 500 pips from the current price.
The trade volume for each deal should be almost the same. There should be 5 intervals.
If after the first and the second interval the price rises by 100 pips (it could be possible today amid the US labor market data), it is better to take profit. Otherwise, traders may leave the market after the first profitable order.
We wish you success! Control your risks!
