Trade Update - EUR/USD Short CLOSED

Update 03-18-08 10pm:
This trade went exactly as planned when I entered it. Within minutes of entering, I was up +50 pips. But instead of locking in the profits and closing the trade, i held on to my position and let the trend reverse. This is especially the wrong thing to do when the trade is entered based on lower time frames. I just need to take my profits and move on.

Lesson:
Small time frames = Small profit + small stop loss.

Total Pips: -150
Total Profit: $150

The Trade:
Finally, after weeks, we have a chance to short the Euro. The Fed rate cut helped spark a broad Dollar rally, and I am just riding the momentum train here.

System:
This is based off the HAS system on 30 minute chart.

Reason:
As mentioned above, the Fed cut interest rates by 75 basis points. This was lower than what the market has expect (100 bps), and hence sparked a broad dollar rally against all currencies. The short time frame charts are also agreeing with the rally, so I decided to go with the trend.

This is a purely momentum based rally with a small stop. So i need to exit this trade quickly as soon as I realize some profits.


Rating:
I would rate this a 3.5 star. The current trend is againt the long term trend, and I need to exit this position as early as I can.

Entry & Exit:
Lots: 3
Entry (Short): 1.56664
Stop Loss: 1.57140
TP1: 1.56144
TP2: 1.55914