Based on the weekly uptrend, and the recent daily double-bottom, this is an aggressive entry into the daily trend, on the 240min timeframe. The entry is buying on a cluster level where Fib levels, moving averages, Weekly pivots, horizontal levels all lie on top of each other, with the stop placed below that, then manage and update the stop on the daily or 240min. Adam
The 120min chart has already given a very bullish signal, and so the trend might not even come back to test this level.
Here is the link to view the setup of the explanation- it’s about 14 minutes long.