Looking for a regression to mean trade here after price extension.
- Price retesting 5 month trend line support turned resistance
- Price also coming off fresh supply zone from December
- Harmonic crab pattern
- 4 hr reversal candle
With the above factors lining up in the same zone, I consider it to be a high probability trade setup. First level of reaction for an exit would be 1.7650, followed by 1.75 if continuation.
- Price retesting 5 month trend line support turned resistance
- Price also coming off fresh supply zone from December
- Harmonic crab pattern
- 4 hr reversal candle
With the above factors lining up in the same zone, I consider it to be a high probability trade setup. First level of reaction for an exit would be 1.7650, followed by 1.75 if continuation.