Trade Log:
Price rallied briefly this morning off the NY Open into a previous area of large selling-imbalance. The predominant trend direction on the Daily and Hourly charts was clearly up so we do not engage the short at this area without confirmation. Overnight global news was unfortunately very sad with shock over the mass shooting in Las Vegas. I don’t believe this climate by itself would fuel much of a drop in equities but the addition of the high-imbalance area made for a prime shorting environment. Confirmation entry was taken on the 4min chart. Targets were set below prior to opposing support.
