NZD/CHF has been declining since March this year. It lost as much as 5,000 pips, and today broke through the yearly low.
This situation opens an opportunity for traders to set up buy limits in the market.
So, starting from current prices, traders can place buy limits in an increment of 500 pips. Take profit on a breakout, 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!
