02 Feb 11 - Bearish Deep Crab Pattern on GBP/USD - H1

In the case of this trade done, it is one of the few examples which shows that all trading systems are not infallible.

Trade was executed when price tested the PRZ and reversed.

The confluence of the following Harmonic Ratios validated the Bearish Deep Crab Pattern:

1. 1.618 XA @ 1.61799
2. 2.24 BC @ 1.61989
3. 1.618 AB=CD @ 1.62075

The entry was considered to be a nice one, but then again, not all trades will give us a home run and in this case, it was a strike out though.

Trade Details

• Date: 02 Feb 11
• Time: GMT 17:00
• Entry Price: 1.61635
• S/L: 1.62440 (80.5 pips)
• T/P: 1st - 1.60500 (113.5 pips), 2nd - 1.59350 (228.5 pips)

Trade Update

The S/L for both batches were triggered on 03 Feb 11, GMT 07:45 at 1.62440, resulting in a loss of 80.5 pips.

Attached is the chart on how the trade turned out.