We have around 7 bars of sideways movement since my last trade. This pause is Profit taking. It is too early to use TR techniques and we don't yet know if price is morphing into a TR or is this just a PB that will be followed by a continuation. If it is going into a trading range then the width or height of the TR has not yet been defined so I would wait before using TR methods. Also note on bar 11:10 it (this PB) is getting close to EMA. It is important to see what it does there.
Thanks. I enjoy sharing but at times get tired and stop for a few months. In this business skepticism is usually a good trait IF it doesn't derail any paradigm shifts that could help a skeptical trader. I always just tell traders to test what I say on a demo and see if you can make it work for yourself. Not everyone trades the same. Some traders just can't seem to get into scalping. That is OK. We all have to strive to define a trading style that fits each of us. I have enjoyed scalping for years. It just fits me.
BY bar 11:20 it is still in a PB. Not yet an established TR. So I would wait before using TR techniques. We also have a DB (double bottom) near EMA. By the way this is ES and MES PA on 2-16-2024. I didn't clarify this at the beginning.
Notice the PB has almost reach a 50% PB from the previous major move up ( bars 9:40-10:00). That is typical PA. We may be seeing the width or height of the TR being established but it still is too early. It is still a PB.
I would say we are now in a TR. So shorting at the top 1/4-1/3. Going long at the bottom 1/3-1/4. But understanding that sooner or later there will come a BO of the top or bottom of the TR