Yellow circle: 1m sets up with a shallow down wave shortly after the open, with a 5m fake 34 rejection. This 5m bullish engulfing candle is solid, but the 1m candles are poor. Either way, immediate new high and then pullback to the 34 on the 5m, textbook.
Orange circle: 5m comes off the 34 after the fake 34 rejection, with a better bullish harami spinning top this time on 1m, and this runs for some hours.
Purple circle: After the 1m wave, we get another entry on the 1m 34, this time with a burst coming immediately after, showing how clear this setup really was.
Blue circle: On the way down, after a bearish harami spinning top 7J on 5m, we get a fake 21 rejection and multiple tests on the 1m 34. 1m doesn’t get above 0, but makes a good bearish harami, twice, with the second breaking the high of the first. A bit tricky but not too much of a loss if we re-enter this.
Yellow box: Another 1m 34/shallow wave test comes along the 5m 7, again going to an immediate new low and then petering out to reverse until EOD.
