FX:EURUSD Euro Fx/U.S. Dollar
People will tell you it's a news event, or even better I hear people say that they are targeting stops. None of it is true. The only thing that institutions who control the market are doing is moving the market faster when news is released. The same structure is still applicable. Why do we pop off of what seems to be random levels? Real simple, you are popping off s/g targeting the distribution you lost or the R/G level. Progression will help you see the big picture, and how to take advantage of playing these FT's.
As stated before it depends what time frame you are looking at. This is 15 min. We are in progression we are range bound. setting up to tag what we gained even further along. It's not about UP or DOWN. On a time frame this small you will be going in both directions testing each leg until we exhaust the range then head to the next level within the progression. Your larger time frames give the overall direction of trend.