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Reports and other important events
Regarding the violent price moves just after 8:30 am EST...
At www.forexnews.com they publish a "Global calendar - Events for ...". It is useful to be aware when important reports/figures are released so that one can either protect open positions with tight stops or be ready to profit from a volatility break-out as occured just after 8:30 am EST.
Good luck and good trading!!!
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