USDINR gave a bearish Momentum lately, now it seems to be stuck in a range. Bollinger bands are also flat with 75.25 and 74.75 as resistance and support. It may make a rangebound flag as per Price action. To make value out of this range, we may consider doing a straddle / strangle Or may go for our usual bear call spread as direction is still bearish. Safer to sell calls and hedge them. Plan your trade! Trade your plan! Happy Trading !!!
Trade active
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Bear Call Spread working... Although if someone has done the strangle may have had to close put Sold position.
From my analysis usdinr has broke down rising channel and forming potential H&S and may touch 74 support lvl. I'm planning to take bear call spread ( -1 74.50CE & +1 74.75CE ) pls advice.
NeelamN
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@prakashgd, I too have a bear call spread for this week, although I am expecting another lower high to form a small H&S inside the right shoulder of the BIG H&S you are able to see.
@ranamaleashwini1989, my recommendation is a bear call spread, not a naked buy option. Will keep my SL @ 74.80 or till I get 80% time decay in my spread. Normally, I cover the position on thursday EOD.
ranamaleashwini1989
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mam or sir ur analysis is very correct pl teach us how to get tread by making vedio
NeelamN
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@ranamaleashwini1989, Thank YOU ! I generally do not make a video, will try to make next time. However, I keep things simple on my posts for all to understand and also recommend safe trade opportunities.