Trade Update - AUD/CAD Long CLOSED

Update 03-13-08 12am:
Finally decided to close this position before heading to bed. I wasn't sure how this position would hold up in the European session, and didn't want to risk losing the profit I had.

Lot 1 (closed at 12 noon): +50 pips
Lot 2 & 3 (closed at 12am): +42 pips (21 * 2)

Total Pips: +92
Total Profit: $92.86

Overall I was happy with this trade as I was able to get into this one before it was signaled via the OzFX system. In fact, while I made decent profit on this trade, the OzFX forum closed this for a 35 pips loss.

Update 03-12-08 5pm:
Finally closed our first lot in this trade for a +50 pip profit. The remaining 2 lots are fluctuating quiet a bit and even went below my entry point (I haven't moved my SL to BE as I am trying a different strategy), but is currently up +40 pips. Interestingly, this exact trade was recommended in the OzFX forum with an entry at 0.9271. So I am pretty happy that I was able to catch this signal earlier. I will have to research my signals more to get an idea of the risks involved.

The Trade:
As in my previous trade, I am trying to play the Aussie dollar rally against all majors. Once again this signal is based on my system on the daily chart. The AC is showing green bar, and the RSI, Stoch and %R indicators are trending up fro oversold. Looking at previous patterns in the chart, this could be the start of a rally and I am looking to catch the signal early.


Lots: 3
Entry (Long): 0.9218
Stop Loss: 0.9118
TP1: 0.9268
TP2: 0.9318