We see plenty of confluence at the 55.60 area with an (i) completion (ii) pattern completion and ( iii ) Ratio Confluence particularly with the 161.8% Extension.
For a more conservative entry with little risk but potentially high reward. This also sits right on the 38.2% Fib retracment level on the Higher Time frame (Daily) so a bounce off this level is highly likely.
I've placed targets at the next structure low which provides plenty of pips for very little work. As always there are several ways we can enter and manage the trade.