Intro: Had some trouble with my directional bias on all pairs at the start of the day. This was predominantly because the H4 pivot highs and lows were not that clear/strong and because M30 price action was quite congested. Here's a video of my anguish...
Plan: Ultimately decided that the EJ was a better short as it had last touched an area of longterm/H4 supply and so shorting into longterm/H4 demand was the action I wished to take. I labeled an M30 level of supply and shorted it once it was reached.
Summary: Had issues with profit areas, strictly speaking I should have shorted into H4 demand but ended up taking profit at the bottom of M30 congestion, where there might have been H4 demand but was unclear as the pivot low it would have been based at was imperfect (as mentioned above). Turns out it was demand, perhaps the more telling thing is not how perfect the pivot high or low is but the strength/speed of the move off the hi or low.
EJ Trade:
Plan: Ultimately decided that the EJ was a better short as it had last touched an area of longterm/H4 supply and so shorting into longterm/H4 demand was the action I wished to take. I labeled an M30 level of supply and shorted it once it was reached.
Summary: Had issues with profit areas, strictly speaking I should have shorted into H4 demand but ended up taking profit at the bottom of M30 congestion, where there might have been H4 demand but was unclear as the pivot low it would have been based at was imperfect (as mentioned above). Turns out it was demand, perhaps the more telling thing is not how perfect the pivot high or low is but the strength/speed of the move off the hi or low.
EJ Trade:
What sort of analysis you would recommend me for KLSE stock analysis, as I am new to it and don't know the basics.
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