I have discussed it many times - if you get a good set-up above (or below) the Fibonacci extension, there is a good probability of a continued move in that direction. ZQK is a textbook example:
1.) What did I see?
A strong first three (wide-range) bars that carry price above the Fibonacci extension of the previous day's low to the opening range high. The fourth bar is (very) narrow-range, and closes green. It leaves an upper tail/wick, and as we have also discussed in the past - if price can rally to take out that upper tail/wick, it is a bullish sign.
2.) What is the entry?
A break of the fourth bar high.
3.) What is the exit?
There was no reason to close the position before the end of the session; this set-up yielded a move of 7%+.
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