GBPJPY trading opportunity

The following is the hourly chart of GBPJPY currency pair as of March18, 3 AM. If you check this you can see that there is a trend line that was broken in the hourly chart. I was observing the 15 min. chart also and in the 15 min. chart when it retraced back I entered a sell trade. Currently I am in 10 pips profit. I put the stop loss above the trend line. There is another trend line below that so I put the take profit a little above that. Check the following picture.

GBPJPY hourly chart

GBPJPY hourly chart

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Some of the good trades I entered this week

The following is the hourly chart of EURNZD. If you check the graph you can see a head and shoulders format and the neck line was broken with a strong candlestick at around 3AM EST yesterday. Once the neck line was broken I entered the trade immediately. The difference between the top of the head the neck line is around 150 pips. The candlestick that broke the neck line already penetrated around 60 pips downwards. So I used a take profit around 70 pips. I used a stop loss of the same around 70 pips and moreover this stop loss was above the candlestick that broke the neck line. In around 6 hours it hit the take profit. This is a 1:1 trade which worked very well.

EURNZD hourly chart:

EURNZD hourly chart

EURNZD hourly chart

The following is the hourly chart of GBPUSD. If you observe the chart you can see a trend line joining the lows of the price chart. I am also observing the 15 min. chart at the same time. In the hourly chart the bollinger bands were squeezed at some point when the price chart is at the trend line. So it should break the bollinger bands either by breaking the trend line or by bouncing from the trend line. In the 15 min. chart the bollinger bands were broken in the upward direction and I immediately entered a long trade and used a take profit of 50 pips and in 30 mins. it hit the take profit. I used the stop loss just below the candlestick. Check the following pictures of GBPUSD 15 min. chart and hourly chart.

GBPUSD Hourly Chart:

GBPUSD hourly chart

GBPUSD hourly chart

GBPUSD 15 min. Chart:

GBPUSD 15 min. chart

GBPUSD 15 min. chart

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