After the previous trade idea was succesful with profit target reached, a large sell off than took place. After a quick yet large move like this occurs often times many traders will be taking short term profits, others will be closing their long positions with losses. Other still will see this as a buying opportunity at a discount. Price has also just bounced off a Fibonacci line on the larger time frame helping the case for long. I would take another small buy if price takes out the high of the last 4H bar. If that order fills than putting a stop below the next Fib line of 50% to give it enough space would be smart.