USD/CHF has been increasing since the beginning of 2021. It has gained as much as 7,000 pips and is currently approaching 0.94700, the top of 2020 and 2022.
This scenario calls for a set of sell limits, according to the following scheme:
So, after the breakdown of 0.94700, traders should set up a grid of sell 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.
