Yellow circle: 1m opens up and immediately falls off. 5m has a 34 fake rejection here, with no sell signal so we can look for the bullish reversal. If I recall correctly, I messed up this trade expecting a full 34 crash. But note that the 5m is trying to make its way above 0 as well. If this happens to break the low, we miss it. Instead, take the 1m long.
Purple circle: After 5m makes its burst above the 34 high, it falls off for the 5m wave B/down wave. 15m is weak so it allows a decent drop. Signal on 1m is not there at the top, so this move is not necessary to take. No clean significant candle, but there are some 7Js. On the reversal, again 1m doesn’t make a great signal at the bottom. The purple circle is the first real textbook signal, 1m dipping below 0 while 5m is making yet another 34 fake rejection setup. This time, we get an extended long with the 5m recovering as it was trying to do before the market opened. Check MACD pre-open to see its true path.
Purple box: There are several entries with 1m dipping below the 0 line, but the first real setup comes much later with the 1m downwave coinciding with 5m on the 21. This produces a straight upward move which is what we want. Not many other trades to take here with no risk, the rest are a bit messy and imperfect entries. Patience is required to capitalize on this final trade without forcing it earlier.
