My theory about the direction of the market will always be based on the same ideas. This idea has a triple/double hit to the bottom, but the chart data on my mt4 is a bit different. That spike down on the 3rd of Jan is in line with the current price on Trading View. Besides this this is a very strong zone..do yourself and wait for a buy signal on lower timeframe...
This pair has reached the 423.6 Fib level and closed with a strong rejection on h4 time frame. We also have strong divergence that developed at this zone. A 32 pip risk(max) is small compared to the potential upside. If managed well it can be a good trade to take while its early.