TRADE NZDUSD: BUY@.64640 Completed Crab + Wave Count

NZDUSD completed a crab pattern that is at a MAJOR SR Structure level and prices are now consolidating around that area. Bullish PA on the 1HR TF is signaling for a move up. So therefore, I am taking a LONG trade on this pair with a tight SL at this moment.

It is entirely possible that prices may continue to drop into the PRZ of this crab pattern and into the higher probability reversal levels below at the .786 and the .886 retracement levels. This is why the tight SL.

MY TRADE PLAN
Stop is going below the recent low for a tight SL. If prices do go below this SL, then will be waiting for prices to decline more probably down to the .64150 level (.786 retrace) before looking at another possible bounce.