Orange circled MACD: This day was a huge FOMC day. Note that the MACD on 5/15 are heading lower pre-open, but we get our standard fake upward move early in the morning first.
Yellow circle: 1m comes off the 34, assuming we had not taken the prior long (no good setup for it), for a second entry. We can take this to a new high.
Purple circle: After this move runs out of gas, the 5m makes a bearish engulf of a 7J indecision candle. This move takes several hours to kick off, but ultimately comes with the FOMC crash at 11:00. This move is optional, because it is often better to just wait for a directional clue and FOMC than to trade leading up to it on a slow day.
Blue circle: Once FOMC kicks off, the 5m is on the 34, and promptly reverses downward to finish the MACD swing that was underway pre-open. This downward move is massive, and goes to the 1H 34. After the 34, it reverses quickly.
White circle (optional): Catching this reversal at the bottom is optional because of how large the candles on 5/15 are. After 5m bullish engulfs, it is a huge risk to jump in at that point, but it provided a massive profit. Going off of the 1H 34, however, we can take this trade in most cases because the 1H MACD has been bullish, and the 4H MACD is very strong all day.
