EURAUD Channel Long Trade

EURAUD H4

My previous long trade is coming out very well and now have locked in few pips. Details [here].

I see that along with fibo level, price is making out a channel as well. Price remained at channel's lower trendline for few seesions and the bounced back sharply. 



Now every dips will be seen as a buying opportunity and should be supported well.  200EMA is coming near to upper trendline. 

My strategy is to add to my long positions on every dip on this pair. 


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EURAUD H4

UPDATE ON 15-Nov-12 - 2:45GMT: Looks like price has stalled just near 1.23 handle and is backing off. 

On H4 chart, pair has put 2 long wick candles along with a doji candle.A pullback looks on cards


I will looking to add to my long positions at around 1.2250 and 1.2230 for a possible move back towards the upper trendline. Level 1.2230 is also the 50% of this leg higher.