FX.co ★ Trading tips for EUR/PLN

As expected, EUR/PLN broke through the yearly highs of 2004-2009 and tested the psychological level of 5.0.

It is now testing the mirror level, but for those who did not manage to place sell limits, there is another opportunity to do it today.

So, after the breakout of 5.0, place a grid of sell limits in an increment of 20-30 pips. Take profit on a breakout, either at 1 pip above the first order or after a 100 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!