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
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!