Yellow circle: Note 5m MACD increasing pre-open, but also the 15m. We get an opening downmove on the 1m, without any proper signal, but then a great bullish hammer doji 7J at the low. We can take this along the 5m 34 and look for a new high, but we also know we should get a 5m wave at this point.
Orange circle: On a slight pullback, 1m comes to the 34 and makes a huge bullish candle, non-sig non-7J. We can skip this but it is a decent 1m 34 either way, worth about 65-80 points.
Blue circle: The next proper setup comes with a 1m Wave B. We cannot expect a longer term short move yet, because the 15m is still below 0. This move runs up over 200 points, and comes off a bullish hammer and double bottom on 1m, non-sig but several close lows together bunched up to make it more obvious.
Purple circle: After setting new highs again, 5m makes a bearish non-sig 7J candle and falls off. We know the 1H can come down off of the 34, and it does here. But we don’t get a proper entry until the 1m comes down and back up to the 34. This time it’s a bullish big body hanging man non-sig non-7J, and so we can skip it if we don’t like it enouhg. This produces about 100 points.
Yellow box: The first 1m wave comes at 9:00, along the 5m 34, but for some reason it does not successfully tank off of it. Instead, 1m gets close to the lows, makes a bullish hammer, and goes for a juke. This juke blows through the highs and makes a bearish non-sig 7J at the top. This creates a bearish gravestone non-sig 7J on the 5m as well, coinciding with the 15m which is struggling along the EMAs that have yet to widen.
Orange box: This next short is much more clean and comes with a great 1m bearish gravestone harami 7J as well. Coming off the 5m 34, we get an immediate new low, and a setup for a long is establishing here.
Blue box: Note that the 1H MACD has been making its way higher the whole morning, and then the 5m engulfing around 11:15 followed by the new low shortly after (off the 1m 34) makes sense. But the new low on the 1m is not sustainable at this point, and the market reverses quickly. After the 1m starts coming up, we get a fake 5m 34 rejection setup, with a bullish engulfing along the 1m 34, and the market runs up 300+ points from this point on.
