Dislikedlets see ..
1) 160 is whole number and important one .. did not manage to break even by 1 pips = fantsatic place to short
2) the up moves was very impulsive .. meaning fast and furious . The professioansl want this as they want to push it to higher levels.
We had the double top earlier at 158.22 and that is the level that a lot of retial investors would have bought long at thinking ' break out' . They liekly rode the pair all the way down to 155 ( yes we have a habit of doing that) .. hating themselves for not closing for only 100 pip loss . If the price came slowly back to their entry price they would be happy to get out for break even . SO Mr market maker pushes price up fast through the previous area of Supply ( 158.22) to entice the longs at 158 ish to stay in and not sell .... thus mening that buyers are in control driving price higher . We will liekly get a pull back to the 158 .22 level .... why .. well MR Market makers is a smart cookie .... he figures if he / she drives it down there once more , the same dopey reatil investors that bought at 158 would now add more to their position .... this will drive prices up even higher than the first break out.
This is the principle I use to trade futures .. it is called open range tradingIgnored
thanx