Weren't there two lower highs on M1 on 12:12 and 12:15?
Or wouldn't it be safer to wait for the bearish 5min candle to form and then enter on M1?
General comment don't take direction from a 1 min chart. Sell lh's buy hl's in a trend thats in play. I've made other comments about nice 1 min set ups that co-incide with small counter trend candles on 5 min.
Other 1 min trades are area/time specific eg 8-10am gmt where (thanks again Islander) gu likes to reject its psych levels. Or where big runs have happened and you are trading reactions to key levels, Mrs V's 25 pip bounce idea.
OK yes the chart does show lh's on 1 min but price is jumping around the RN and thats dangerous with a small stop. The trades I will take around a RN are specific set ups (100% system trades) and I hate to see the kind of above/below RN gyrations like the 1 you're posted. Just says to me that an entry with small stop can easily get stopped out.