congestion

PCX demonstrated a setup over these last few months that I first learned about within Toni Hansen's material. Price was in a recognizable consolidation range after an initial impulse push. After testing the highs for the second time price again sold off, but this time found buyers about half way into the existing range before breaking out and fulfilling a measured move up.
Keep an eye out for this pattern on all time frames and look to buy/short the first solid bar after the shallower retracement within the range, or just wait for the breakout/down.