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CAD/CHF has been rising since the beginning of the pandemic. It is up 9,000 pips, earning 4,500 pips last year.
This situation puts pressure on the upper limit of the current channel, around 0.75200. The lower limit is 0.71.
Looking at this, traders should set up a grid of sell limits after the breakdown of 0.75300. The increment should be 300-500 pips. Then, 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!
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