USD/GBP - Short Setup Developing - 1.70 Sept Puts
Idea is simple:
1. Wait for market to recover to 1.7116 - 23
2. Buy September Put Options with a strike of 1.70 (personal preference)
3. Wait
Rules:
1. If market proceeds to make a new high above the 1.7190 High on the 15th of July.... Close position.
Why am I using options?:
1. Risk is fixed.
2. Greater leverage because we are expecting a SHARP selloff from this set up, not simply a drift.
1. Wait for market to recover to 1.7116 - 23
2. Buy September Put Options with a strike of 1.70 (personal preference)
3. Wait
Rules:
1. If market proceeds to make a new high above the 1.7190 High on the 15th of July.... Close position.
Why am I using options?:
1. Risk is fixed.
2. Greater leverage because we are expecting a SHARP selloff from this set up, not simply a drift.