Change of character in range shown by largest decline painted in red, other declines are clearly smaller. May be in Phase C with UTAD (upthrust after distribution) now where positions are distributed, therefore a good place to short. I would expect price to spend some time outside the range at the top (where it is at time of publication) where longs are slowly offloaded/shorts are acquired. This would confirm UTAD. Tight stop allows only a small loss with good R:R 10:1.
As you can see, it has left the large markup channel that I longed - at the very least this is highly suggestive of a new consolidation range even if it isn't distribution. However, behaviour and suggest distribution to me, hence the short.
TP has been a rough estimate based on size of trading range and when the range is left - TP is dynamic and may easily change as the trade progresses.