First note that there is a large gap on the hourly, which sets up this massive reversal. Then, note that the 5m MACD is telling us there needs to be a pullup first. We get this run up at the open, but the market takes several hours to gather itself before the dump begins.
Yellow circle: Off of the open, we get a sharp bullish reversal on 1m. Note this candle is far from ideal, and thus optional. We can simply wait until the short setup for the dump if we want to.
Orange circle: After the 1m makes a good bullish hammer 7J, we get a move to above the 0 line, and a dump to a new low, invalidating the hammer but not fully invalidating the idea. This is tricky. We get another bullish harami 7J shortly after the new low, and this runs to what looks like a new high, just barely. Finally, the setup comes for the short but without a significant candle on 5m. There are several 7J candles on 1m, but no clear top entry. We get a bunch of bearish hammers and some bearish engulfing candles, but overall this is very tricky to consider it the ideal top in the moment.
Purple circle: On the way down, the move is steep, and we don’t get a proper pullback for some time. 1m makes it possible to enter on the 21 with a bearish gravestone harami non-7J at about 10:20 AM, but this is the last entry for another hour and a half.
Blue circle: We get a few 1m wave attempts, but no solid entry for the short until this one. This one comes with a bearish harami 7J that leads into another 80+ point drop before EOD. We can exit on the bullish harami 7J at any time, there are three on the way down.
