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TRADING BLOG EP. 73 - TRADING POUND... AGAIN

Another day trading Pound futures, but this time I’m short. After the rally we had the previous day, I was anticipating a bearish correction back to the Weekly VWAP. This ended up playing out beautifully. So why did I get short, what was my trade setup?

I was looking to get short off of the previous day’s POC. This level lined up perfectly with the previous monthly VAL. We sold of under these levels, then we came back to test them. I could see buyers getting trapped at these key levels, and as sellers began to initiate lower prices, I got short, My first target was a new low, final target was the Weekly VWAP.

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