How I set the bias
or, how I find the top or end of the move. I look for the following attributes when finding reversals
ATR move reached, this one is as simple as checking the ATR move
price action at previous resistance area
high volume candle reaching for HOD
multiple (3 minimum) candles to the upside from the previous range break
Parabolic SAR indicator above 11EMA on 1-min chart or extension from 11EMA so that previous candle fits under current candle and the EMA
Entry rules
Reversal pattern on 1-min chart, ideally with a fake break in 1st or 2nd minute candle
Enter at the break of previous candle
Stop goes to the HOD
Trade management
Target 5R, VWAP or 50% retracement of the previous move, whichever comes first
Move stop to BE after 1R move
Follow PSAR for exit the trade
Obviously, I decided to try a different method and I partialled on the big quick drop, expecting a pullback. Then I added-up back to the position after the ABCD pattern on the 1-min chart, bouncing from the 11 EMA. This made my BE point at 22.95 which I was tagged after 2 minutes on a cent before it moved eventually down. Although I believe that the add-up was correct, it affected the trade result, so an 5R all-or-nothing strategy would do better.