Combo Confidence - SRS

The gap down open and overall weakness in the broad market produces gap ups in several inverse ETFs on my WL. I noticed the perfect combo for trading SRS (inverse Real Estate ETF). Early in the session, SRS was the %change leader on my WL and VNO (Vornado Realty Trust) was near the bottom based on %change. Additionally, with SRS trading at/above the PDH, the daily chart (left) looked great.

My first entry was a strong full b0died candle closing above the 50% Fib level of the 30min OR. I was stopped out following consolidation at the ORH. The long upper tail on the first 15min bar was not easy to overcome. Two bar later the ORH was decisively taken out with another strong full-bodied candle. After some chop, the traded carried to the 62% extension of the 30min OR. The second trade never violated the ORH.