Yellow circle: Market opens downward off a very shallow 1m wave, and then tests 34 and continues lower. Note how slowly it is moving down. Then, 1m makes a bullish engulf along with 5m bullish engulf right around 7:00, and the market turns up quickly. We get another test of the 34 as well, not pictured, but right on EMA stack.
5m gets its wave, and makes a bearish spinning top harami 7J, which takes us down to a new low. This is coming off the 15m 34, and note that the 15m is bearish before open, requiring a new low.
After this, we don’t get any good quality standard setups except for a 1m on the 34 around 11:40, not highlighted.
