Yellow circle: The market opens up, and pulls back to the base as is standard, but without a sig-candle on 1m to enter. There is a bearish hammer doji 7J that can be taken, but I did not circle it as it is optional. However, it does come off of the 5m 34. Debatable. The yellow circle is our first real entry, the 1m pulling to the 34 on the way back up.
Orange circle: At the top of this new high, 1m starts falling off without a proper setup, and 5m makes some bearish candles much later than the top, but still near it. We can enter on the pullup of the 1m shortly after, and get confirmation from 5m there.
Orange circle 2: As it drops sharply, it pulls up to the 34 again, for another 1m entry.
Blue circle: 1m pulls back to the 34 while 5m comes off of the 34 on a bullish gravestone 7J which we know is not sufficient to reverse. This sets up a great 5m fake 34 rejection, and as expected the move powers through the highs immediately, sending it up 150+ points. Standard.
Yellow box: After this move, it contests the highs and doesn’t break, and 1m starts falling off again. We get a pullup on 1m that takes it to a new high (not on the daily high), which gets another 5m late confirmation bearish harami candle after. This pullup comes off of “nothing”, and sets up with a great bearish gravestone doji 7J to let us enter short at the very top. This move falls for about 125-150 points.
