As far as weekly and intraday charts are concerned, the current prices experience following observations,
Price inching towards lower , these curves are widened which means trend may experience more .
At that juncture, the candles need to be a very small real body like or a resembling which we’re seeing on intraday charts.
Upper, lower and middle are almost parallel to each other.
In ideal scenario targeting 111.101 levels on southwards since we rely on and and as they pop up with selling pressures thus far, so smart way to approach this pair is to deploy the option tunnel using ATM puts is structured as a binary version of a conventional put spread on intraday terms, i.e. long delta puts with higher strikes while writing the lower strikes for above-mentioned targets on either side.
Therefore an In-The-Money tunnel would be formed of an in-the-money -0.71 delta put below the current exchange rate less an Out-Of-The-Money put above the exchange rate. The delta of -0.55 on combined position with slightly negative theta is preferred on this execution.
Once a tunnel is discovered a trade can be placed each time a candle cross the top or bottom since it is an indication of higher . You place a trade on the candle that crosses over the . When the candle crosses the top you place a down trade.