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Currency Futures

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  #1060 (permalink)

Miami FL USA
Trading Experience: Advanced
Platform: Ensign 10, NT7 DOM
Broker/Data: IB, IQ
Favorite Futures: Currency Futures
Cashish's Avatar
Posts: 803 since May 2011
Thanks: 811 given, 2,112 received

I think the Highest Probability was to stay range bound. I considered this a low risk trade with a decent profit potential, and a lot of room to maneuver around.

I entered at the VWAP on the pull back. After my entry at the VWAP price hung there and rotated. This rotation caused a shift in the POC up from 3228 to 3233 at the close of the bar in the black circle. This was my second indication this move wasn't going to happen, the first was the amount of time price sat on the VWAP, I wanted a "touch and run." The volume on that attempt at a new low, signaled me to give this trade a try. Lastly the close of the bar in the blue circle was above the -1 standard deviation, I want it below, this was my final get the hell out indication. Since the volume profile was about as symmetrical as they get, going long to the other side of this range, ("pressure cooker") or the +2 SD was for sure a good trade.

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