Price is ranging, bearish pin bar has formed at an area of previous resistance and previous swing point indicating sellers have regained control of price. Sellers may be ready to push price down to the next level of support in the range. Entry order placed half way of pin bar. Risk reward is over 2:1
Trade closed: stop reached:
price did not reach target but did reach a risk/reward 2:1, should have closed manually once price momentum stalled. Price reversed and hit stop loss.