Trade Update - GBP/CAD Short - CLOSED

Update 02-28-08:
It was a good call on the GBP/CHF pair. of our positions closed at the 42 pips and 92 pip target points (I made a mistake setting the TPs. Should have been 50 and 100), and the third one hit our stop loss.

Lot 1 (closed at 12:02am) : +42 pips (Stop loss moved to break even)
Lot 2 (closed at 12:25am) : +92 pips
Lot 3 (closed at 07:24am) Stop loss.

Total Pips: +134 pips
Total Profit: $136.88

The Trade:
This is using the OzFX system on the GBP/CHF daily chart. The technicals are lining up nicely for a short when you use only the OzFX system. The price is below 200 SMA, AO & AC turning red and the Stochastic is trending lower. However the main concern is the top & lower resistance as shown in the chart. If the price doesn't break 1.9400 level, we might be in quiet a bit of trouble in this trade. Maybe we should have waited for confirmation before placing the trade. Oh well..


Lots Oened - 3
Entry (Short) - 1.94596
Stop Loss - 1.95196
TP1 - 1.94176
TP2 - 1.93676