Trade Update - USD/CHF Long

The Trade: USD/CHF Long


Reason/Setup:
This trade is based on the Elite setup on 1 hour chart. I had set a buy stop order for this trade before going to sleep. And it was triggered. I was also late in entering this trade by almost a candle. Target was 30 pips away.

Trade Details:

• Date Entered: April 23 2008, 12:30 am
• Entry: 1.0068
• Lots: 10
• Stop Loss: no stop loss set.
  
• Target: 1.0098

• Date Closed: April 23 2008, 5:45 am
  
• Result: Pair hit target.
• Total Pips: +300
• Profit/Loss: $297.09
• Rating: 4

Comments:
Not the perfect entry you would expect, but the pair had momentum, and I got a win. It can also be seen from the chart above that the pair had a strong momentum behind it due to the strengthening of the Dollar against all currencies. I need to figure out how I can hold on to a big breakouts like this one.