Here's how it looked like on M5. Have we entered right at the mentioned line, would have been a "blind" trade with a limit order, as there was no short momo built up (it was on M1).
Those 3 trades you can see, the first I was trying to get pips on the reversal, quick trades, I was at +16, but it bounced up again so fast I could only protect +1 (good thing as it went up again for about 40).
Second one was a 2nd attempt good for 7 pips. I should've hold.
Third was thinking the move up would continue when price hit the ZL formed at the bottom of the biggest up momo. Spread and speed didn't allow me to get better price. Closed it with +1 as it didn't get more momo as expected.
Should I listened more carefully to H4 I would have stayed longer on short trades and won't have traded that last long. Honestly I didn't trust that H4 momo as price was already coming up from that big short, back from 150.45 which ZL the up move from moment's current daily low and considered it would go up to 153.00
Daaaahhhh, stop thinking and trust what you see !!!!!!!!!!
MO suggests that you cant be fooled on all timeframes.
Look at H1/H4 to help you with your decisions on M5/M15.
Price took off higher so much because there was an old Zline (Target 3) + too close to previous Day Low.
My Mighty zone (MZ) commences RIGHT where your upper yellow line is situated. we both considered it, and correctly.
That is where you should have entered first time.
But I never thought of the lower yellow line, I look at D1 to help me trade the H1.
Try looking at H1 to trade your preferred smaller TF.
All the best.