Yes, but the down bar had higher Volume than the up. If you had gotten short, that would have been a danger sign. High Volume points are mainly herd buying/selling and smart money absorbing, as in trap.
Itās these little nuggets of gold that summarise all the early lessons we read.
And @ Dodge; Mate thats awesome of you to put these thinking scenarios up for us.
I think it is a greater learning tool than watching a live trade; Thanks heaps.
can anyone explain what was wrong with my logic?
Just because things didnāt go the way you thought they would, doesnāt mean there was a flaw in your logic.
I could not find a flaw in your logic. Looking back on the chart, there are many instances where using that exact same analysis, you would have had a profitable trade.
The important thing here, is to find the subtle hint that might indicate a non-high-probability trade, and stay out of the market when you see it.
And another one
Thankee
ehh, pretty quiet here 
Ok, so it didnāt stall and go down, but at that point it sure looks like it would have. How could I more accurately analyze that point in the data?
I think the slightly higher than expected inflation in the Eurozone trumped the chart analysis you made. Though having said that on the charts Iām looking at in work here (Netdania) the volume on the 1H charts looks quite low compared to the volume on other days around the same times of day. Has me wondering about whoās participating really but Iād like to have a look at my MT4 at home to know if what Iām seeing on Netdania is more or less right.
Okay. I was kinda hoping that price would go up once again, so I could get in too.
So there is some candles that I marked. Green line means buyers and red means sellers. At least I thought it went like that. And if Iām even half right here, it says there is alot seller activity. So I finally went short 'cause there was no new high.
lolā¦ My stop just was 1 pip away. If it doesnāt stop it in future, it was perfect place for stop. lol.
I was kinda feeling that might come so I set my stop quite high. But risk checked.
And, I opened new short also. But this time very small stop. So basically, not risking anything. Itās either huge win or very small loss now. I always step in too early or too late. 
An agressive yet valid setup in my book. Less agressive would be to wait for stopping volume on an up bar and an inside close to follow on the 1hr. Iām in short with half a position.
Yes. It was aggressive. But that friday was hunting in my mind. Didnāt get in and boomā¦ It went down.
But when I do aggressive move, I risk little. If it does something what you said, then I make it to be āfull positionā.
Young=aggressive. Canāt help it.
Price went bellow daily R1. There wasnāt so much volume, but some. So I took some profits. Plus I put my stops lower.
lol 1 pip away from stop earlier. If that wasnāt close, nothing is.
Iāve been 0.1 pips away on quite a few occasions 
Well, my broker only shows 1pip. Not 0.x pips.
Now Iām waiting if price come back up and then see volume reaction with fib.
If it goes back up, I will risk the amount I just made. Sounds good on paper I think. Rest of the trades I just forget now. Unless something āweirdā happens.
Wellā¦ Itās not perfect I think. But somewhat valid? Little position for short.
Editā¦ Oh wait it was 5M TFā¦ When I checked 15M TF, looked much better.
haha yep, I was going to re-enter but Iām going out. Good luckā¦I may be around for London.
Well, head and shoulders maybe forming? I will watch this oneā¦ Day is pretty much over soonā¦ So itās maybe not so valid.
Editā¦ There is some support now, so I closed that trade what I just opened. +20 pips from it. Now I wait and see what happens next. If support holds or breaks.
Still have couple shorts. Maybe I put those to break even and end this day. hmm.
Edit2ā¦ Soā¦ Nothing is happening now, so I made my mind. I closed some more and then I left some little thingies go. BUT didnāt put BE. I put stop one pip under BE. Meaning that if those close now, I get one pip. 'cause earlier I was 1 pip away from my stop. So I think itās funny to put my stop this way, that I get 1 pip profit if it closes.
1 % profit today. Was playing with so small risks and quite big stops.