Yellow circle: Note 5m has a bearish candle leading into open, along with decreasing MACD. We get a burst at the open into a large bearish gravestone non-sig 7J on 1m, which creates a bearish engulfing on 5m as well. This is the top of the day. We also must note the 1H leading into the open, which is extremely bearish and even a bearish harami 7J.
Orange circle: Once 1m breaks lows, it bounces back up for a wave, and we get a good bearish harami spinning top 7J. However, this high gets broken momentarily as 5m bounces around its 34, which is barely getting stacked at this point. This is just a trade that must be held, because the later highs don’t provide better candles, but require a 15-20 point drawdown.
Purple circle: A later candle comes on 1m with a bearish gravestone doji non-sig 7J, which is along the 5m 34, and immediately collapses.
Blue circle: On the way down, we get another pullup to the 34, for the first touch and immediate new low.
Purple circle: After the 34, we barely escaped another wave, so this move takes it to a wave. We get 3 separate bearish setups, with the first being the best with a 7J and also higher price than subsequent bounces.
Yellow box: We don’t get any 5m 21 setups today, but we get another 1m wave along the 5m 7, with another immediate new low off a great bearish gravestone harami 7J. Again this is tricky because the first gravestone gets broken for a new high several times, producing yet another gravestone later once 1m makes its way above 0.
Orange box: Optional 1m 34/wave combination reversal for new high near EOD. 5m is unstacked here, so it’s a 34/unstacked setup which we need to document further still.
