Based on this 1-hour chart and aiming for a risk-reward ratio of 1:2, I would consider a long position if the price shows a clear rebound from the recent Low (LL) with a target at a previous High (HH) for profit-taking, while setting a stop-loss just below the LL to limit risk. I'd open the position after a green candlestick confirms a bounce off the support level, indicating a potential upswing. My stop-loss would be half the distance to my profit target to maintain the 1:2 risk-reward ratio.