Yellow circle: 1m off 34 right after the open, sharp bullish gravestone doji.
White circle: 5m makes a fake 34 rejection here, but notice the 1m and 5m make pretty good bearish setups, while the 5m low is not exactly clearly bullish. Therefore, we can easily misread this and go short and get burned on the burst.
Orange circle: 1m pulls very close to the 0 line, but doesn’t go under for the wave B. Instead, this sets up the burst for the 5m 34.
Blue circle: This is optional, 1m down wave with 5m 21, because we are expecting the 5m to pull back further to the 34 after the fake 34 rejection. Instead, because it runs, maybe we adjust our theory here. Will have to look into it further.
White circle: Again a tricky situation, 5m comes down to the 34 finally, but it’s after a successful 21. This 1m bullish engulf traps us if we go long, as 5m is setting up to crash instead and reverse to penetrate the fake low set earlier in the day.
Purple circle: Great 1m bearish engulf to go short before the move starts.
Yellow boxes: 1m makes more bearish setups along a shallow pullup/kind of unstacked 34s, and then takes off for about 200 points to close the day.
