This is very much counter trend with bare minimum confirmation of the area provided by the M15. 
Personally I would prefer more confirmation from the higher timeframes than I am currently seeing.

That said, some traders have a higher risk threshold than me and may be happy with it.
Your target is very ambitious if you decide to take this trade,
1.3600-1.3606 is riddled with mirror flip S/R (obstacles) and would make for a more realistic target.

In this game of probability though there is not much point in attempting a trade that works out less often than it loses. The trade you pointed out today does sometimes work out, I agree, but not as often as it fails. About 4 years ago or so I would have also liked that trade but through experience I have learnt to be patient and stay away from fighting such a fierce trend without seeing some slowing. Today right before I had answered your post I mentioned in the live room that I was looking for a pullback buy and any selling was a long way off for me. I have let the market teach me this over time and the only way I could have justified selling that area based on how we arrived back to it would have been an H1 scale of Double Tap with Entry Trigger or higher.

Ultimately everyone has their own risk appetite though and I try not to tell people what to do, just what I am doing and how I see things.

Hope this helps,
Theo

mshand said
Whilst not a setup on EU 15min as such as the setup ** Register Here for Free Membership to see this image/link **

candle wasn't really a pin, it does quite amaze me how price bounces between these S/D bands!!

A good small trade on the M15 and whilst I would always suggest mastering the H4 as a minimum before attempting such trades here is a quick analysis. 

I would always read your layout like a book, from left to right.
Starting with the Daily I see that we are counter trend at a box with indecision candles,
then on the H4 I see things are getting messy,
when I move to the H1 I see the clear trade that we had already had before the one you are pointing out,
you see how we had a double tap confirmation of that area on H1 with trigger candle (left isde of your H1 chart).
That ends up being what I was talking about before with regards to what I would need to fight such a trend.
As we move forward on that H1 chart though and look at your trade you see how it is also the double confirmation tap of the box in question BUT it follows a higher low. This means we are consolidating at that H1 level and the trade on the M15 is just a very small one with low expectations. A small trade to tie you over and with small risk and small reward, very much a 1:1 type of trade for me.

As for these S/D, S/R boxes, you will find that price always bounces between these bands due to the laws of order flow, no big player presets their trades at random locations in the middle of nowhere, they are all playing probability just like us so orders will be set at areas now visible historically. Your job is to learn to read the Market Structure and determine which bands are most likely to be the ones that are reacted from based on how price arrives at them.. and then use entry triggers to confirm that you are not alone.

Theo

** Register Here for Free Membership to see this image/link **

It is hard for me to make any real decisions based on 1 month of data as per that screenshot. That said I do think that is a prime location for another buying wave based on what I do see. The lower low you are talking about is a longer term deal, based in this 1 month picture I would expect a bounce here up to one of the 2 red lines with regards to potential reaction points for the sell. The other scenario that could play out is if it drops below both o those boxes and has a mini pullback you could play the breakout of the area. The sell that you have set is right in all the support zones which is not something I would ever do.

First I have to say that I feel that Renko is much better than Candlesticks for clarity,
with the exception for the Daily Chart and above.
(once you go that high Candlestick charts don't have that much noise anyway)

Secondly it is my opinion based on many years experience that the same pip size renko does not apply to the 3 pairs that you mentioned. The EUR/JPY is much more volatile/spikey and has a different size renko than the EUR/USD, and the EUR/USD has more movement than the EUR/GBP which also results in a different pip size renko between the two.

All of the above is why I ended up developing a simple organic formula off of M5,M15,M30,H1,H4 that dictates renko size on a pair by pair basis and checks itself every night at midnight.

Renko charts are timeless movement based charts and so my conclusion was that the size of the blocks must be based on each pairs current volatility and that must be constantly monitored. 

I use 2 renko charts that are both on the organic sizing system,
1 is what is called the main chart of the 2 and essentially cleans up and replaces the H4 pace.
The 2nd is what I call the entry trigger chart giving me more easy to read evidence based wave structure entries at a faster pace.
This entry trigger chart replaces the need to trade the candlesticks themselves.

The concept and software with detailed video course is available to v1 Members,
I have also taken things much further than the v1 course and that is the VIP level providing the latest progressions made, a VPS account with high level EA automation, a live room with 3 session outlooks per day + webinar Sunday. The VIP basically allows you to cram 8 years of live trading experience into as much time as it takes you to get through all the material.

Cheers,
Theo