Yellow circle: Note the 5m MACD before open, telling us of the crash coming. We get a pull back and bullish engulf on 1m, taking us to a new high.
Purple circle: Shortly after, we get a great bearish harami 7J on 1m, to set up the bearish run.
Orange circle: We don’t get a clear 5m bottom, but we get a recovery from a double 7J near double bottom on 5m. 1m recovers, and then has a wave B off the 5m 21, into a new high. We can take this with a bullish engulf but have to sit for a bit before it takes off.
Blue circle: We get another 1m down wave, this time with a better bullish harami 7J and 5m dipping below the 34 momentarily. This is a bit tricky because of the 5m blowing through the 34 the way it does. But it works out.
Yellow box: We get another 5m test on the 34, though this is optional with no wave reset having taken place. We are also on the same path to recover the opening crash, so we could simply hold our Wave B longer term if needed, but it’s not as efficient.
