Good day, traders! CHF/JPY had been rising since 2021, gaining as much as 40,000 pips. It has once again updated the yearly high, which opens new opportunities for sell limit orders.
This means that starting from the current prices, traders could set a grid of limit orders in increments of 10,000 pips. Take profit upon the breakdown of 153.8, or after a movement from the first order.
This method is called grid trading, which is usually used on cross rates. It involves holding positions that are significant in time and distance. For that reason, it is recommended to use 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 that could be as much as 12,000 pips.
Good luck in trading and don't forget to control the risks! Have a nice day.
