EUR/CHF has been declining for a year. It lost as much as 8,600 pips and is now trading at 1.02750. It already updated the weekly low, which is another signal for placing buy limits in the market.
The pair is already near the 2015 lows, which is an excellent "mirror level" when working out a false breakout.
So, starting from the current prices, traders can set buy limits in an increment of 300-500 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!
