I have reason to believe that if price continues to rally from here, in what is a downtrend judging from the daily chart
, it will be overbought in a Supply Zone
(lightly brown shaded backdrop) of the weekly (W) chart, and if it retests the hourly (1h) supply zone
(grey shaded backdrop zone) then it will drop
. How far? I'm guessing substantial since the supply is coming from both the weekly and the hourly. It's possible to end up with a 1:4 risk/reward if the target is reached well before a possible demand zone
on the hourly.