FIRST: Check the Monthly, Weekly and for TRENDS and draw bracketing lines, parallel if possible, on both sides of the major price action which leads into the current Price.
Always paying most attention to WHERE the current Price is WITHIN the larger trend, find all the prior trends on the smaller time-scales that are WITHIN the larger longer time-frame trends, and notice that BREAK-Outs of price usually lead into these "consolidation zones" and also lead OUT of them too. So what I want to do is bracket each consolidation zone, or , and if possible with a HORIZONTAL bracket, because it is easier to place STOP LIMIT ORDERS which bracket the small trend to catch the BREAK OUT.
Spend several minutes seeing if you can find ALL of the IMPULSE moves on the following charts, and try to bracket the consolidation zone that is BETWEEN the IMPULSE MOVES. Odds are they are each nice Price channels.
Last night/this morning I had 25 Orders with price brackets around consolidation moves (Flags), 6 of them TRIGGERED my stop-limit orders, I lost $6 on one trade that stopped out, and made $200 on the profitable ones a I closed.
Good Luck and Happy Trades!
Note also the VERY LONG Reversing candle preceding the huge Up-Move towards the end of this chart!