I agree. Key to note from that period though that the top of the pattern was the base of the previous overnight consolidation. Just as 09.10am pullback was to the previous lows of that consol pattern. Basic sbr.
It's when a major level is past that you are positioned well, with your downside being limited by that previous level which helps you place the stop. I call it 'steps', and I plan them the night before or early in the morning - its given great success, and the failures, wehn they inevitably come, are small in ratio to gains. Also, when there is a failure, there is sometimes still a chance to reenter.
The movement in the early am though is great because it is usually a strong move and gives you the opportunity to put the trade @ b/e - in this case we are operating around key levels though.
And usually that initial movement is the direction of the trend for the first half or all the day (when the pair is trending on a higher TF, so that consol would be a pause in the higher trend)
I wouldn't get involved around the Round Number Monster right now @ 11600, but if we had carried out that set up it would have been a success.
I much preferred the FTSE / DAX this morning for trading.
