Moodeng bullish scenario

Moodeng price has fallen to the last major support and now has formed a HL on LTF.
Looking for price to retrace on the 1h before attempting a long with invalidation below 0.04.

Has confluence with fib time marking this recent wick as the low.
Not a high level confidence here though as not much data to work on.
Can also wait for the next HL as confirmation but as always use your own risk management here.