Trade Update - EUR/USD Long CLOSED

Update 05-07-08 4:40 pm:
This trade just didn't work out. As soon as I entered the trade, it was down just a few pips and was holding steady there. But when the Asian session opened, the pair just started tanking along with other Dollar pairs. Not sure what exactly is influencing this. I even waited to confirm the trend before entering this pair.


Trade Results:
Date: 05-07-08 4:40 pm
Result: Pair hit stop loss.
Total Pips: -500
Profit/Loss: $494
Rating: 5

Reason/Setup:
Entered this trade based on the OzFX setup on 1 hour chart. I waited to make sure the Stoch went past the 0 line before entering the trade. Stop and target currently placed 30 pips away. No plans to change the stop, but might change the target depending on price action.


Trade Details:
Date: Mat 07 2008, 12:10 pm
Entry: 1.54052
Lots: 10
Stop: 1.53752
Target: 1.54352