I would say you're in a counter trend, any time frame. Considering the "setup" definition, you would apply appropriate entry and exit. Your setup entry today was perfect, yesterday, I think you missed the boat unless that wasn't your first position in it. Your two trades are a brilliant way to practically demonstrate the difficulties of trading a counter trend. It begs to ask when it is too early and when it is too late, or should I bother at all?
I wouldn't consider 1.56 that significant at that point. What you call the big boys, they are already long, probably long time ago. Or it could be the "additional" gains that continued at unusual time, yesterday around noon (as a matter of fact, it started around 5:11:34 am est, if you paid attention), and continued overnight in asia. Price might not be that attractive, unless you really greedy.
I don't see any significant price progression around the "open" 3am est on any day this week (around the time you made the trades). As a matter of fact, on the contrary. Your "setup" today would work every day this week. Having said that, that is a dynamic to consider, maybe something else is going on.
I'd be careful not to "overuse" the counter trend, they don't last. But you probably know this already.
As a side note, if you went the other way, you'd do better. That's where the trend is and the context.
Good stuff, keep it going.
Good Luck.