UPDATE: GBPUSD Approaching Bullish Deep Crab Completion

1 Jul 2015

In a previous post, "UPDATE! GBPUSD Bullish Cypher Completed. ", the bull Cypher I posted about reached Target 1 for a quick +40 pip gain.

If you had placed your T/P at that point, you would've gotten the 40 pip gain. But with the release of GBP Manufacturing data, prices quickly dropped down to close out the cypher and I got stopped out on this trade at my entry having already taken the 40 pip gain.

So now in another previous post (see Related Ideas), I had mentioned about a bullish deep crab pattern as well which is shown now in my chart. Prices are quickly barreling down towards completing it. I will be watching for prices to reach the completion of the deep crab and placing buy orders there.