Yellow circle: The market opens with a 1m pop up and bearish gravestone non-sig 7J. We can short this initially, off the 5m 34, but it is not circled here. The first 1m wave comes around 7:20, with a perfect bearish gravestone harami non-7J on the 1m, coinciding with the 5m 21, for about 125 points.
Orange circle: Shortly after the market recovers from this drop, 1m pulls down for a wave B, and makes a bullish engulf while 5m gathers itself. Note that the 5m could look like a down wave at this point and the 15m comes off the 34 with a bearish harami 7J, which is very deceptive. But this is preceded by the 15m bullish engulf at the lows, and a sharp incline on the MACD on the 4 hour overnight as well. We have to keep our mind on this larger trend to understand that the 15m is just a fake 34 rejection. 5m makes 3 or 4 hammers consecutively at this point, and a double bottom, and then explodes for 3 hours straight.
Purple circle: For 3 hours, the market runs, and we don’t get much chance to take any late entries unless we take simple 1m 34 entries around 11:00 for the last ~100 points. Then, the market pulls back down to close the day, and 1m sets up a short setup on the 34 around 12:40, but this is skippable because of the time of day.
