Trade Update - EUR/USD Short CLOSED

Update 03-24-08 11am:
My final lot closed today after hitting the stop loss. I had been up almost +250 pips in my position before it closed at +150 pips.

Lot 1: +50 pips
Lot 2: +100 pips
Lot 3: +150 pips

Total Pips: +300
Total Profit: $300

Update 03-20-08 10am:
The Dollar has been on the rise all week, and this proved to be a great trade so far. The first 2 lots closed at +50 and +100 pips respectively. The third lot is trading at +160 pips. I have moved the stop loss to +100 pips.

The Trade:
Going short the EUR/USD pair.

System:
OzFX system on daily charts.

Reason:
This pair has been going up for a very long time, and all indicators are in oversold position. This might be the time when we see some pullback. From the daily chart, we see the AC showing red bar ad crossing 0. The AO is also showing red. And the Stoch, RSI and %R indicators are trending down. I have given this pair a sufficiently large stop loss.


Rating:
I will rate this trade a 3 star. The price is way above the 200 SMA. But this paid has to have a pullback sometime, and this is a good time.

Entry & Exit:
Lots: 3
Entry (Short): 1.5596
Stop Loss: 1.5721
TP1: 1.5546
TP2: 1.5496