Note 4H is down, so we must have a drop sometime today. We get a massive drop shortly after the open when 5-15m fails at a new high.
Yellow circle: First trade is a perfect 1m bullish hammer recovering off the 34, at the stacking point. Not a sig-candle but still very close to ideal due to context.
Orange circle: This trade is optional. We have 5m failing with a bearish harami 7J, and 1m with several bearish candles at the top. Ultimately 1m fails on a new high break with a bearish harami and already B- MACD with divergence.
Purple circle: Here we must be patient with 1m because it jukes several times while EMAs are not fully stacked bearish. We finally get it to stack with a bearish harami, and then a burst to break above the high despite still hanging on the 34. Tricky here, we just have to trust it.
Blue circle: Another juke comes on 1m, this time with the 5m failing to reach the 21 shortly after crossing up. 1m jukes once, pushes it to the 5m 21, and fails with a bearish gravestone non-sig 7J at a new high. Both are good shorts, but the 2nd is of course tricky due to the juke.
Yellow box: After that new high, we get a better entry, albeit a bit lower, on the 5m 21 again. This time it’s a great 1m bearish gravestone engulfing 7J, which immediately dumps to new lows.
