As we can see on the 4h chart a down spike that overshot the upper bollinger band has been followed by a deep correction which failed to reach the upper bollinger band.
A second sell off is expected to test the low of the spike and/or the lower bollinger band.
A conservative and safe target could be the level of structure along the way which has been shown by the yellow rectangle.
A second sell off is expected to test the low of the spike and/or the lower bollinger band.
A conservative and safe target could be the level of structure along the way which has been shown by the yellow rectangle.