NeelamN

USDINR View 16 July Weekly Expiry View and Strategy

Short
OANDA:USDINR   U.S. Dollar / Indian Rupee
Possible Top is formed with Fake Breakout and strong inverted hammer .
View : Sideways to Bearish

Resistance @ 74.75 Support at 74
Short Straddle 74.75 or 74.5 Strike is possible
Or my favourite Bear Call Spread.
Sell 74.75 CE and buy 75 CE
this must be done on bounce, if we get one for this week's expiry.
Trade active: Bear Call Spread already giving 6%... Delta + Time decay both in our favor.
Trade closed: target reached: Exited with 15%ROI on total margin in bear call spread this week