Yellow circle: First we see the market drop off at 5:30, setting up the news reversal. Then, 5m opens up into the 34, with a fake 34 rejection developing. This is tricky because we may be tempted into getting into the 34 short, but the 15m bottom is very strong earlier. Therefore we must neglect the 34, and go for the fake 34 rejection. This comes with a 1m down wave into a bullish engulfing non-7J. The candles are not ideal but as we have been seeing with the 34 rejection lately, this is an extremely easy move to get in on, and the question is whether to hold or take the break. In this case, the market runs, and it is likely due to the 5:30 reversal.
Orange circle: After a while, 5m makes multiple bearish tops. We should not be taking these ideally, because resistance is not shown anywhere here at this time. On the way down, 1m pulls up to a very shallow pull-up off of the 5m 21 (almost touch). This gives us a bearish engulfing entry on the way down to the 5m down wave.
Purple circle: After the down wave, we get a perfect 1m bullish harami hammer 7J. However, the MACD is -10, and 1m makes another attempt at the low before reversing. We should make a note of the MACD value because of cases like this, reversing after a steep trend. This doesn’t get us a new daily high, but still makes over 100 points.
Blue circle: On the way up, we get the first 1m pullback around 11:00, on a perfect 5m 34 test. This gives us another 50+ points.
