The easing of inflationary pressure in the US has led to a sharp fall in dollar and, as a result, a drop in USD/CHF quotes by almost 7,700 pips since the beginning of the month. This opens the opportunity to set a grid of buy limits below 0.93561.
So, after the breakdown of 0.93561, place buy limit orders in an increment of 500 pips. Take profit on a breakdown, 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! Don't forget to control the risks!
