Yellow circle: The market opens straight down, without an entry, so we get a nice reversal back to the open here. 1m bullish harami 7J, with a bit of a shaky second attempt to the lows off the 7. However, it survives. 5m makes a bullish harami as well, for a stronger push. This runs up for about 120 points, for the 1m up wave (first up wave after open).
Orange circle: On this second short setup, 5m makes a great bearish gravestone non-sig 7J, with a 1m bearish non-sig 7J as well. It is the first real test against the 5m 34 after the EMAs stacked, so we can maybe enter the 1m long bullish hammer at first, or just wait for the 5m close. Either way, the trade is worth over 120 points.
Purple circle: Later in the day, th e5m makes its way above 0 for the first time, has a shallow wave and shallower wave B, and then a run into a full wave, above the 15m 34. Note the 15m EMAs are bear-stacked at the close of the bearish candle, and the 5m gives us a bearish engulfing for an entry, though not very cheap. The 1m gives a bearish gravestone non-sig 7J, and this runs back down from over 400 to under 250.
Blue circle: Optional trade: 5m bullish harami reversal off of overextension and not much else. 4H MACD was up overall during the morning, so we know there’s a bullish move leftover somewhere, but this trade does not really fit our system.
