Yellow circle: 1m opens up into the 34, drops, and reverses back into the 34. This second test is a slightly better signal than the first, but still far from ideal. It’s optional, and we get a better signal later.
Orange circle: While we’re getting about 40 points lower with this entry, the signal is much better. This bearish engulfing/bearish harami combination setup on the 34 takes it down about 70 points.
Orange circle: An unideal bullish hammer 7J on 1m and subsequent bullish hammer on 5m pushes the market back to neutral and it stays there.
Blue circle: First 1m downwave on the 5m wave back to positive MACD, takes us to an immediate new high and then falls back. This coincides with an unstacked 5m 34.
Purple circle: 1m falls off after the new high, and comes back to the 34 for a bearish harami that fails, and then a long tail bearish harami through the 34, which again fails to set a new low on the previous 1m low. This is difficult to call, but the candles being substandard help.
