Watchlist Addition April 3rd: Northern Oil and Gas (NOG) - Watching for a breakout above $21.25.  Notice the price compression on the hourly chart.  Low ADX reading means big price movement coming soon.  This is an aggressive trade because NOG is in a short-term downtrend.  But with the high short interest in this name it could get a nice short-covering pop.

UPDATE 4/4: Broke below support on weak broad market open and falling oil.  Breakout above $21.25 didn't happen, so no entry on this pattern yet.  Will keep watching.

disclosure: I am long NOG