Yellow circle: Market opens with 5m and 15m clearly bearish, but coming off an upwave on 1m at 6:10. Therefore, we need to find a move off the 34, which we get shortly after 6:30.
Orange circle: Shortly after the new low, 1m double bottoms and reverses. We can also take the initial exit with bullish harami, losing about 20 points on the lower low shortly after. After this, 1m pulls above 0, for the first proper upwave since 5:30. This gives us a bearish engulfing entry off 5m 34, a perfect short.
Blue circle: After a steep drop, 5m makes a bullish harami 7J at the lows, and reverses. We get a weak 1m wave B on the way back up, but a better secondary fake comes off the 5m 21 shortly after. This second entry provides a 7J bullish non-sig candle, while the first entry is a bullish harami non-7J. Both are not ideal. Either way, we either take this or wait for the 34 test shortly after. It is fine to skip all three, assuming we don’t simply enter the low on the 5m.
Purple circle: After 5m crosses above 0, 1m makes a bearish engulfing and 5m makes a 7J non-sig hanging man. This creates a 100 point pullback, worth taking, but not part of a full move down to new lows. Also comes off 15m 21.
