1.Breakout of descending trend line which shows potential bullish movement 2. If we get a retest of the key price area highlighted another confluence 3. 61.8 fib level has been plotted so if we see rejection off this level that will be the final indication for me to take this trade
NOTE - Coronavirus is causing mayhem in the markets right now so watch out and do not be risking to much of your capital. Stick to 1% per trade. As you can see this trade has great risk reward.
Remember trading is all about stacking confluences to indicate more reason to enter a specific trade.
First rule of trading for me is LEARN HOW TO PROTECT YOUR CAPITAL with RISK MANAGEMENT.