Dear all
Today I sold the FTSE Binary Tunnel 60/60 at 81.
Half was closed at 59 and the remainder expired at 100.
Binary tunnel trade summary:
Binaries range from 0-100. In this case I was focusing on the 60/60 tunnel. This is simply agreeing or disagreeing that the FTSE will stay in a 60 point range from the previous days close. In this case the previous days close was 5675. By selling the trade I was disagreeing that the trade was going to stay in a 60 point range. I want to be selling these trades at 70 or higher to make the risk/reward make sense. After all that is what trading is all about. I have yet to buy a tunnel but its possible. The tunnel strategy take advantage of volatility, particularly just before large news releases.
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