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i hooked my red wire onto the lower of the 3 fuses on the LHS. on my one anyway this lower one is only live with the ignition on. i would check to confirm this is also the case with yours. The black one is hooked into the wire the points was originally connected to. you can then cut/slice wires as needed to make the install pretty.
if you leave the factory wires long enough you'ld still be able to go back to the points easy if you wanted to.
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