Here is a great longterm setup with possibly multiple positions that can be taken here.
Currently we have a "Descending Triangle" with a great entry available at resistance.
I built the "Descending Triangle" on a 4H chart, I also have found confluence with my previouse published "Cypher Pattern" on the D Chart
There are pattern formations inside of pattern formations. Depending on your skill, understanding confluence as a trader becomes more and more important.
Note: This idea was sourced from a book called "Encyclopedia of Chart Patterns" second edition.