Trade Update - EUR/USD Long CLOSED

Update 03-31-08 10am:
Finally the third lot hit my target point and closed out. This has been a good trade, and probably one of my best so far in terms of the win.

Lot 1: +50 pips
Lot 2: +100 pips
Lot 3: +269 pips

Total Pips: +419
Total Profit: $419

Update 03-26-08 10am:
The EUR/USD trades have been really good to me. I again closed the first 2 lots in this trade for +50 pips and +100 pips respectively. The third lot is currently trading at over +150 pips.

Update 03-25-08 3pm:
We got confirmation for this trade in the A-MACD system. So maybe now I can be double sure. As of now, I am up +15 pips per lot in this trade.


The Trade:
The Dollar is beginning to weaken again against other majors. So we are going long this pair.

System:
This is not based on any particular system. The closed it is related to is my system.

Reason:
After a brief rally, the Dollar is pulling back again against all majors. According to the OzFX system, the AC is green, but the AO is still red. And with the A-MACD system, we would have to wait for one more bar on the 4 hour chart to confirm trend, but we are very close.

So this trade is based on my system. The Stoch, RSI and %R indicators are moving back up form over sold territory. So we are going along with the ride.



Rating:
Since this is not based on any particular system, I am going to rate this a 3 star. Luckily for us, the trade is in line with the long term trend and above the 200 SMA.

Entry & Exit:
Lots: 3
Entry (long): 1.5616
Stop Loss: 1.5516
TP1: 1.5666
TP2: 1.5716