Silverjazz, I will try and explain as we go along. Because there are quite a bit of stuff I look at. I started this under the guidance of Nanningbob in 2012 and there are things I have picked up over the years.
Yes, we are in a short trend. Pullbacks occur and they can span hundreds of pips.
Firstly you will see that at almost any round number I take a buy or sell trade. That's why I like to show my closed trades on the chart to look at where I mucked up and so forth. The idea is to lock my best trade in and walk away.
Next you will see that the 4 hr candle open/closes are becoming higher and rejecting off 1.24500. Refer little ascending t/line on chart. This is how I get in before my signals start confirming my bias or trade direction.
Also 4hr candle closes are staying close to 1.2500. So bulls may want to push over forcefully.
My daily stochs are turning up and buy arrows are starting to appear which confirms my current buy direction.
I will wait for a pullback to my daily pivot at 1.24774 to get into a buy trade. A strong close below will nullify my buy trade.
Anyway will try and touch on more as we go along.
Cheers.