Hmmm, I'm a bit out of my depth here. The 61.8 retrace of the 1.5365 to 1.5842 move was 1.5550, which was one reason I thought it might be a bottom. Are you referring to the break of this level, or another fib?
Thanks for the feedback. I'm here to improve and decided to swallow my pride and post what may well be bad trades...
Still the rationale for this trade comes from my understanding of yoohoo, who said to fade obvious S/R except when the 1min is barreling through it.
What do you know, I caught the flying knife, short at 5827. Nice profit locked in now. Never would have put on that trade if not for this thread...my eyes have been opened!
I'm short again since 5780 and, going back a couple of pages to my post about the daily charts, I'm thinking it's all short from here, maybe right down to 1.48. Nevertheless I'll play it as I see it, not as I think it :-)