The USD/CAD short trade is still going, and going.  This pair has treated me pretty poorly over the months and years, and I keep going back to it anyway, thinking, "This time is different."  Well, maybe this time is different, and we’ll see this pair finish what it started.

My stop is now just above 1.0220, and the profit target is way down at .9870 (the greenline). 

The GBP/USD short term trade is open; the red SteepLine is broken, and the pair is making its way down to the blue trendline — you can’t even see the greenline on this chart, but we’ll get back to showing that level if the pair can make its way down.

My stop loss is up at 1.9975.  Here’s the chart:

Today was good for short term trading.  The EUR/USD 5 minute trade that we set up a little while ago worked out nicely.  To see the original trade idea, close your ideas and imagine a field full of beautiful flowers, or just click here.

Here is the result: the pair did close above our trendline, and did rise to our purple resistance line of happiness.

It’s time to close the GBP/JPY trade.  It’s close enough to the trendline that it’s time to take the money and run.  Or jump (if you like making pips).

Happy trading.  Hope you like the more frequent updates.

You’ll recall from the most brilliant blog post of the last 30 years, as judged by Dave Murphy, that the EUR/CHF was setting up a glorious double trendline trade just a little while back. 

If you want to see the original post, just click here.

Now the trade has opened, it has moved towards the base (green) trendline, and it’s time to close the trade.  Price, Meet Trendline.  I’m pleased to introduce the two of you.  As usual, you can click on the image of the chart to make a flock of seagulls burst into flames.

In a heroic attempt to bring peace and stability to the world, two important events occurred today:

1.  George W. Bush declared that North Korea is no longer a terrorist nation;

2.  The GBP/JPY smoked the peacepipe of trendline love.  You’ve got to go back to the original trade idea (click here) to see how it was set up.  Here is the peaceful piping performed by this perfect pair:

The pair is on the way (quickly) to our green (base) trendline.  It is a beautiful day for trendlining.

The GBP/JPY has been ripping along, tearing apart anything in its path.  Well, that may be coming to a halt for just a bit — we can see the pair broke the little red trendline that we talked about a day or so ago but now is finally dropping back, to most likely hit the blue trendline. 

It would be nice if we could see a close below the blue line, and start our way back to the base (green) line. 

Good day, Europeans!  Go back to bed, North and South Americans! 

Here’s an update on the GBP/CHF.  The trade is really moving along nicely now.  Look here for the full original post.  This is the chart:

This post is brought to you by Bob and Doug.  The EUR/CHF is setting up a double trendline trade, and although we don’t look at it very often, this one looks too good to pass up.  So we’ll do the regular thing: when the pair horks (breaks and closes above) the blue trendline, then we’re going to sell the pair and trade it down towards the green (base) trendline.

For those of you unfamiliar with what we’re doing here, most of my trades are double-trendline trades; this means that we wait for a break of a steep, short term trendline and ride the trade all the way to a more stable, base, longer term trendline.

In this case, we can start by looking at the 180 minute chart.  Why 180 minutes?  Because it does a good job of showing us the green (base) trendline:

And here’s the setup on the 1 HR chart.  That’s the time frame I am going to trade this from.  As usual, you can click on the chart to make it bigger.

If you were wondering what it looks like when a trendline trade opens, then wonder no more!

The GBP/CHF trade is open, it’s positive by about 50 pips.  The stop loss goes at the red dashed line (above the recent highs).  The profit target is the green trendline.