A couple of weeks ago, we gave a trading recommendation to set a long grid for the AUD / NZD pair.
To date, the instrument has broken through the key summer low, having passed 5,000 pips since August, which is a good signal to start and continue recruiting a long grid according to the pattern shown in the picture below:
As we all know, the essence of setting grids is to trigger a good pullback, after the breakouts of large monthly highs. And, just as we said before, this kind of strategy is the most fitting for the AUD/NZD pair because in most cases, the quotes, after prolonged movements without any rebound, usually pull back by half of its turn.
Here, trading volumes must use small 0.03 standard lots for every $ 1000 of deposit. Then, as before, positions will be spread out by setting several limit orders, in increments of 500 to 1,000 pips.
Of course, traders must still monitor and control the risks to avoid losing profit. Trading in this market is very precarious, but also very profitable as long as we use the right approach.