However, I felt that the sellers, see the big red bar on left has been neutralized by the buyers noticed the trading movement right after the red bar and the candles lower wicks rejecting sellers and closing above the support line.
It was enough for me to place the trade but I still need to be careful so I initiated a pilot buy. If I'm wrong this trade will give a small loss compared to if I traded my usual units. Entered long EURUSD @1.3363 with a stop at 1.3235. Let's see what will happen next week.
Edited Monday, January 28, 2013 at 7:23AM PST:
I'm out for now while price is romancing the weekly resistance (blue line). Will come back soon if the price retrace towards the support area or breaks the weekly resistance then back for retest. A good PA action is needed to signal another long trade. Got out @1.3437 for +15
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