It was a good day of trading....Nice down move to load up the longs and then an up move to show the strength for all to see. As expected, EU peaked towards its support at 1.3336. It was quite obvious that it had peaked too early and so a correction was due and it came during the London session. With London closed, it had low volume and hence it was easy to manipulate the price and down we went. I had a very strong feeling that the uptrend was intact until 1.3184. So, took a long at 1.3232.
Attached is the chart on 1H for EU. Watch the PA at the bottom of the swing. There was a bar with slightly high volume which almost ended as a pin bar....This shows strength and buying which has pushed the price back. Also, this is near a good support region...This is good reason for me to take a long which i took at 1.3232. Next bar, we go down but i dont panic cos i know that the uptrend is intact till 1.3184. This bar then ends in a pin bar with slightly low volume which confirms that the uptrend is intact. I stay with my longs and close it at 1.3336 for more than 100 pips profit...I am sure it will go up more but this is a resistance region and so will wait till the resistance is broken.
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