Trade Update - USD/CHF Long CLOSED

Update 04-02-08 9:15pm:
It took some time and even looked like it might go on to hit the stop loss, but the pair moved higher once the volume started picking up.

Total Pips: +100
Total Profit: $98.74

The Trade:
Impulse buy based on the Elite setup. Going long the USD/CHF pair.

System:
This is based on the Elite setup on 15 minute charts.

Reason:
The 3 EMA crossed over the 34 SMA. The 34 CCI also crossed over 0 indicating an entry point. However I am late getting into the trade by 2 bars. I might have missed 5-10 pips because of that. Also the longer term trend is down as can be seen by the direction of the 34 SMA.


Rating:
I will rate this trade a 2.5. This was more of an impulse buy rather than a proper entry. The trade is against the longer term trend which is not good.

Entry & Exit:
Lots: 5
Entry (Long): 1.01080
Stop Loss: 1.00580
TP: 1.01280