GU W Pivot, divergence, failed to follow bias up

On the morning of 31 Jan I had an up bias for all currencies due to the 4hr flow. The 4hr candle that was open at the time I posted subsequently closed below the W R1 pivot, see arrow up.

Now the question must be asked if you consider the 3 day move up a rally in downtrend that you want to sell or the start of a significant move up. So a sell is either counter trend or resumption of D trend down. Either way you are going against the immediate flow up.

As posted previously (use blog search counter trend items to consider), if we are considering counter trend trades we want over whelming additional information to consider, such as:

- Proven support/resistance levels.
- W pivots.
- Divergence on higher time frames.
- Price action proving it does not want to progress for hours, double tops/bottoms , higher lows/lower highs, evening/morning star patterns, engulfing closes.
- Psych levels eg round numbers

In addition to the right kind of price action on 15 min, double tops/bottoms , higher lows/lower highs, evening/morning star patterns, engulfing closes.

In this case we have

- W R1 at 1.5877
- 4hr and 1hr divergence
- Price action stalled for some 16 hours failing to break higher
- On the 15 min chart the multiple tops are evident, we have divergence, then a lower high following divergence with evening star pattern. The right kind of price action to follow on 15 min with the higher time frame set up.