Tips & general help to make you a better trader by 
What we can see now as price has moved out side of the previous range bound location is yet another small range for us to play with.
The move into the range is up which does suggest a continuation about 65% of the time.
So the plan of action as always, wait for price to move outside of the range boundary before looking for a trade. Entry is on the first pullback after the break out move. This is the safest low risk entry option for the pattern.
I don’t have to worry about what the pattern is called or price action evolutions as I’m looking at the consolidations highs and lows and not using trend lines to identify a pattern which can and does evolve into something else.
I;m also not forgetting the larger picture, the overnight range is within this larger range that can be seen on the 240 min chart.
So my plan based on the 3 basic questions
- Where is price now?
- What is it doing?
Price has broken out of 240 min range and developing a smaller range.
- IF price goes up/down/sideways whats my plan?
Sideways - continue to wait for a break of the range boundaries.
Up - Long break out trade first pullback
Down - Short break out trade the first pullback
nice and simple
Enjoy
Phil