TRADING BLOG EP. 53 - QUICK & PAINLESS TRADE
I wasn’t expecting much action today on the ES due to the lack of economic news & the fact that Powell is speaking tomorrow & Thursday. However, when a textbook setup appears, I can’t resist it. I ended up getting short & scaled out of the position as the market went in my favor.
I was following the bearish rhythm created on the VWAP, and also we traded into a key level – a naked VAL. Now, I just needed confirmation to pull the trigger and get into the trade. I saw absorption occurring at multiple angles – in the cumulative delta, the footprint, and the DOM. Buyers were being absorbed by a passive seller, and once those buyers lost steam, sellers took over, and I got short with them.
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