White circle: Note that before the open, 15m is bullish, coming off a fake 34 rejection. This makes a shallow wave and runs for the entire early morning.
Yellow circle: After the opening burst, 1m pulls back to the 34 momentarily, but doesn’t make a clear touch and bullish signal. This is an optional entry off the 21 instead.
White box: Note that after the 5m makes a strong bearish top with multiple 7J and a bearish harami, it falls back to the previous day’s close. This provides a strong support for a fake in-between long move, which turns out to be the 5m pull up here.
Orange circle #1: On the 5m pullup, we get a tricky situation. 1m collapses momentarily without a proper top, and 5m makes a bearish top, but is still on the 7. This leads to a slow but eventual higher high, where 1m make sa much better bearish top, However, it agin pushes higher on the 7, breaking the previous high, and then finally collapses. It would be difficult to judge in the moment where we should consider the top for a stop, so this trade is a challenge.
Blue circle: After the top, if we miss it, we get a few entries on the 34 and 1m wave shortly after. First, 1m pulls up with a non-sig non-7J multiple 34 test, which creates an immediate new low.
Purple circle: Then, 1m makes a better entry with a shallow wave and a bearish engulfing, which starts the full move down for over 120 points. Again, we can use the previous day’s close as an exit, or just a break of the previous low, knowing it came off of this support as a fake in-between long.
