4 pm, the 10 am New York numbers, the European close and the lull

Between 4 pm and 7:30 pm, the session changes nature twice. First a number, then an exit, then the void.

4 pm: the second salvo of numbers

Several US releases land at 10 am New York, 4 pm in Paris: the manufacturing and services ISM, the Conference Board consumer confidence, home sales, JOLTS job openings. They do not have the weight of a CPI, but they arrive when the IB is two thirds built and the market is looking for its direction. A 4 pm ISM is often responsible for the IB's break or rejection.

Procedure: position open, we keep it with its initial stop, never widened; no position, we wait three minutes of acceptance before resuming the read. Card 2 of module 5 is built on the IB rejection caused by a 4 pm number.