GBP/USD - Bearish Deep Crab (500+ Pips)

٢٥ أبريل ٢٠١٧

Hello traders, it appears GBP/USD is now forming a bearish deep crab pattern on the 4h chart. This is an excellent opportunity with a potential 500+ pip return!

The measurements for a valid deep crab are detailed below.
B: 0.886
C: 0.382 - 0.886
D: 2.24 - 3.618 (D point falls short of the minimum requirement, but I'll see how this setup plays out)
X to D: 1.618

I'll be expecting price to stall out once it reaches the D point, keep this setup on your watch list.

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