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How to Interpret the Settlement Period on a Daily Chart
If you’ve been a reader of this site for a while, you may have seen me reference something called settlement. This is how I refer to the last hour of each session. It’s the period between 4 pm and 5 pm EST. During this time, you’ll often see buyers and sellers jockey for position, particularly when the price is near a key level. It’s like the last 10 minutes of a sports match. You get to see which side prevails and that alone can be indicative of what happens next. This is why a daily pin bar at a key level can be so powerful. It tells you whether buyers or sellers are in the driver’s seat. I’ve listed ... (full story)
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Beware of robber banks (RB), bad advisors.