Yellow circle: 1m first dip below 0 after opening positive, lined up with 5m 34. First 5m 34 after 5m minor down wave. Instant blow through high. Red circle on 1 hr chart shows we are playing the gap filling this morning. Straight to the top from this move.
Yellow box: 1m coming off 34 first touch after the 1m wave, another new high off this. Standard.
Blue circle: This is an optional short on 1m pullup, while 5m is crashing back down after finishing the gap fill. The 5m top isn’t ideal, but the move is pretty easy off the 1m pull up.
Blue box: 5m pulling up to the 34 during the down move, when EMA’s finally stack for the first time a little before this move. 1m pulls up above 0 and then pulls up a second time during this 5m 34 touch. This second 1m pull up sets up a massive drop to new lows.
Purple circle: 5m fake 34 rejection pulls back and 1m sets up a perfect dip below 0 for a final wave to close the day bullish. Doesn’t make it all the way to the top but we can take profit anywhere late day from this, if taking this trade. It starts a bit late, past 12:00.
