LewisGlasgow
Short

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

OANDA:GBPUSD   British Pound / U.S. Dollar
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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The B-C proyection shouldnt be at 2.618 - 3.618 fibo level? Im starting to read about harmonics.
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The B-C proyection shouldnt be at 2.618 - 3.618 fibo level? Im starting to read about harmonics.
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i love your work buddy...be blessed.
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LewisGlasgow ntokozothungo
@ntokozothungo, thanks man!
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Nice setup !! , lookin for short from that area also, for now im longing this pair.
have a nice week & trade brother! :D
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@Tanzil, thanks brother, all the best going long! Have a great week too :)
+1 Reply
Lewis Can I buy the GBP USD now? PLease let me know.
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LewisGlasgow allwynbazil
@allwynbazil, you'll need to do your own analysis, I'm not looking to buy GU at the moment.
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allwynbazil LewisGlasgow
@LewisGlasgow, Thanks Lewis
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LewisGlasgow allwynbazil
@allwynbazil, no worries :)
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