Orange circle: 5m and 15m are going up at the open, and 1m rips but eventually runs out of gas in the first 30 minutes. We don’t get a clear bearish entry candle on 1 or 5m, but the 7Js tip us off. The first real trade comes as the 1m collapses, and retraces above the 0 line. 5m Narrowly escapes the 21 touch, but this is the first real wave during the downtrend, and can be held for hours.
Yellow circle: As 5m recovers (exit is the bullish harami around 9:00), we get a fake 34 rejection setup. In this case, the 1m pulls below the 0 line, despite already having a Wave B. Perhaps it is because the 15m and 1H are also below 0 at this time. 1m bullish engulfs, and the rest of the move is pretty smooth, though slow.
Blue circle: Around 12:00, 1m dips below 0 line again, this time making the best signal of the day, for a bullish reversal to the new high. It’s also coming off the 5m 21, so this is perhaps the only perfect setup of the day.
