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100 level. When this occurs, it signifies that the market is popping out of its oversold or overbought condition. R2 degree is the place the market normally experiences important resistance and this stage provides an exit goal for long positions. As quickly as the commerce turns profitable by the amount risked exit half your positions and trail the remaining position with a trailing cease with 20 day EMA minus 15 pips! We will take the N.Y Bank Settlement Time of 5:00 PM EST because the shut of the day and 5:05 PM EST as the open of the subsequent day whereas calculating our every day pivot point ranges. Unlike the stock market or the futures market that has an official open and close, forex is a 24 hour market with no open and close. When the Lucky Spike seems in a down trending market, enter a protracted commerce on the open of the next candle.
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