Confluences: 1. Uptrend - in 4H timeframe 2. RBR and strong support zone - 1H timeframes 3. Bullish engulfing - 1H timeframe 4. At EMA50 zone- in 1H timeframe
Reasons: 1. Market need to fill the imbalance structure before continuing going up 2. For a good profit, i want the market to retrace to at least 50% of fib level
Side note: 1. Entry , Stoploss & TP are different between brokers (few pips). 2. Price can retrace deeper, so if you have a small account, only enter after price action has created an uptrend structure in 15mins.