Note: this is 3rd attempt to sell. Second attempt I posted was invalidated. It did not breakout of consolidation period (red box).
Regardless which way you want to trade, look for minimum five 4hr. candles in consolidation zones (yellow border boxes), or five daily candles for solid yellow boxes. If you're a pattern trader or trader, this might be useful here.
Wait for a significant breakout of the 4hr. consolidation or daily consolidation from red border boxes to take the trade. Red border boxes are the High/Low of a consolidation period inside the consolidation zone. I usually aim for 80% of the weekly ATR (or monthly ATR for yellow solid boxes) taking profit but not always at the next yellow box. I place my stop loss above/below red border box.
*These zones, with the inclusion of price action described above, have remarkable accuracy.
Yellow border box: weekly consolidation zone
Yellow solid box: monthly consolidation zone
Red border box: High/Low breakout box (5 minimum candles)