Inside technicals and chart patterns by 
The short term 60 minute set up outlined in the last post has triggered and although it tested my patience, ended with a nice outcome. Next.
The 240 minute time frame is consolidating and the set up is a triangle in an distribution cycle.
The MACD Histogram has just gone positive but is far from solidly confirmed above the zero line.
If prices head lower it would be very easy for the MACD to negative at this point.
As long as the market cycle is sideways, look to play the breakout to either side.
- Raghee