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FX.co ★ EUR/CAD breaks year's low again. Start of limit buy grid

EUR/CAD breaks year's low again. Start of limit buy grid

EUR/CAD breaks year's low again. Start of limit buy grid

Hello, dear traders! I present to you the trading idea on EURCAD.

There has been another relevant event for EUR/CAD today. After falling by 17,000 pips, the instrument broke the current year's low again, allowing to set the limit buy grid according to the following scheme

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EUR/CAD breaks year's low again. Start of limit buy grid

Breakout:

EUR/CAD breaks year's low again. Start of limit buy grid

It is possible to set a limit buy grid with an increment of 300-500 pips on the 5th digit, starting from the current price and below.

After setting longs on a fall, an exit from the grid with profit is performed at the test of broken level at 1.41800 below or at 1 pip above the first order in the grid. Notably, grid trading involves holding positions that are significant in time and distance. For this reason, it is recommended to swap-free accounts, not to increase the volume in the grid (0.01 standard lot for every $1000 of deposit) and to consider a reverse pass up to 5-6 trading pips.

The trading idea is presented as part of the grid trading on certain cross rates.

Good luck and control your risks!

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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