Yellow circle: Note the 1H and 4H MACD, 1H curving up before open, and 4H being down. There is also a 15m wave/1H 21, which sets up the opening crash. We don’t get any entries except a weak signal on the 1m 34, which is optional for a perfectionist approach.
Orange circle: After this crash, the market rebounds, and there are no great entries for anything except a 5m Wave B midway through the day. We get a bullish harami 7J on 5m, and several decent 1m bullish candles with a rising MACD and divergence. This gets us into a long for the rest of the day, but the trade is still tricky.
Purple circle: There is another good bullish entry on the 1m bullish harami 7J on the 34, for a fast run up toward the high late in the 5m Wave B move. But as it approaches the high, we fail to break the high, and this would be tempting to exit on the 1m bearish 7J, because it falls quite fast afterward.
If we held on, we can continue holding for the rest of the day, but it’s tricky especially because there are no clear clues on the 1m for where to exit besides the weak bearish 7J. The 15m is below 0, and it is technically a fake 34 rejection on the 15m, so we should trust it, but with the 1H coming off the 21 again, and 4H negative, perhaps we just take our profits early in general.
After this, there are several weaker trades on the 1m 34 but we don’t get a full recovery. Mostly uneventful day if we miss the opening drop and get juked by the 2nd fake 34 rejection.
There is also a gap above all of this action, which we are expecting a reversal to correct.
