Yellow circle: 1m comes off the 34 multiple times, but doesn’t make a good candle until here, with a bearish gravestone doji non-7J. This takes us lower, but it’s a choppy move. Have to just be patient because it’s FOMC day.
Orange circle: First 1m wave, bearish hanging man harami, takes us another 100 points lower. Standard.
Blue circle: 1m comes up to the 34, doesn’t make a new low, and then goes up for a shallow wave instead. The wave is roughly the same price as the 34, so we could technically trust the 34, or treat the shallow wave as the first 34 touch after the previous wave. Either way, the wave provides a bearish harami that just barely fails, and the 34 doesn’t provide a sig-candle. Wave is slightly better, but still tricky.
Purple circle: Bullish engulfing on 1m comes with bullish engulfing on 5m leading into FOMC, and the bottom is secure against FOMC. Tough to take this all the way because of FOMC, so perhaps we could exit. However, FOMC comes off 1m 34, and it’s clearly bullish.
Yellow box: 1m bearish gravestone non-7J, reverses the FOMC move. The high is broken shortly after again, so it’s tough.
Orange box: 1m drops and then pulls back to the 34 for a bullish gravestone and bullish spinning top non-7J candle. I read this correctly to go short, and only trusted it because it’s post-FOMC and we know the direction. Can’t expect the best candle here, but it’s very volatile and debatable.
Orange box #2: 1m comes back up to the 34 again later, much lower and with no sig-candle again. However, it runs the entire rest of the day. No other way to get in.
