Note: First attempt to sell stopped me out. Here, a second chance. Wait for a significant daily candle breakout of red box to enter. Why sell? Because it's the path of least resistance. It requires a lot of fundamental energy to break major areas.
Trading Criteria:
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 pinbar 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) Grey solid box: monthly grid block