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Moving
position
of
horseshoe?
(2,3,4)
Moving position of horseshoe? (2,3,4)
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The whole clue is the definition (& lit or double definition).
How the clue works
This is a double definition where Moving means being on the move, as in animals sold "on the hoof" while still alive and walking. The second sense, position of horseshoe?, plays on the fact that a horseshoe literally sits on the hoof.