Yellow circle: 1m bullish engulf sets up the news at 6:45 popping to a new high. Note that the 1m is trying to go up shortly before 6:30, then it falls and tries again, which lets us know we need a 1m wave.
Orange circle: After news, we get a bearish harami spinning top 7J immediately, which sets up the extended downward move as the 5m had been setting up for overnight.
Blue circle: After the 5m continues lower, it bounces up without a sig-candle. We would expect this to continue lower, and we get a bearish 5m harami with 1m wave on the 5m 21, and this fails. This is difficult, but the explanation seems to be on the 15m. We get a strong 15m drop since 4 AM off of the bearish gravestone harami 7J, that was leading into the 1H 34. However, this move on the 15m is extremely divergent, making it more of a fake crash that just took longer than the others we’ve seen on 1-5m. Thus, we have three separate plays in action at the same time: 1m short term up wave, 5m short term down wave, 15m longer term upwave with short term “fake” crash. Extremely educational situation here.
Yellow box: 1m makes another downwave later in the day, along the 5m 34. Neither offer sig-candles, and so this is optional. However, the 5m does not go below 0 and makes a bullish hammer non-sig 7J, so it still is an okay signal.