Yellow circle: A good 1m bullish engulfing 7J comes before the open, lining up with a 1m fake 34 rejection. This pops with the 15m 34 (not first touch), creating an immediate new high.
Orange circle: After the new high, 1m makes a bearish harami 7J, a perfect signal to exit and consider short. With the 4H coming off the 21 and 1H already at its up wave, we can consider this as a strong region to short. Going short on 1m is good, due to the fact that we know the fake 34 returns to the 34, but it ends up easily turning into a longer term short.
Purple circle: 1m pulls up into the unstacked 34, makes a bearish engulfing on bullish gravestone doji, though it’s not perfect. This collapses immediately into a strong new low, but note that the market pulls back up immediately. These imperfect moves seem to do that often.
Blue circle: After coming back up for an up wave, 1m makes a short setup with bearish engulfing (non-7J), and 5m is congested fighting to get above 0 and failing. 5m makes a bearish engulfing here too, and then the market drops off for a few hours.
Yellow box: Note before this trade, we have a potential 1m wave/5m 21, but it fails. 5m is steadily coming up on MACD, and instead pops for its first real wave of the day (not counting the opening fake new high). At the yellow box, we get a couple strong bearish 1m signals, along with one great bearish 5m harami. However, it is late in the day, and no new low. Also, 1m fails initially, making the first entry tricky and premature. But the second entry is great and still worth about 70 points if we are patient.
