This 1.24400 is on a strong support lvl of the higher time frames.
If i measure from low to my high fibo(green) this price fall in a .
My last fibo tool is my this i measure from the high to the low, my 4/1 is my support and meet this fibo's all togehter what makes a strong reaction zone.
I add a few and most important the major is up
Now for going long you need to make some more rules for yourself you can combine this with price action but with expirience these levels get rejected fast by the market so not to miss this entry you can place pending orders