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AFSI - Oversold Reversal / Gap Edge Trading

AFSI had earnings last week and had a nice gap up and held the gap up day well. The following day it gave up it's gap and started falling since. Today it had a big gap down and was selling off hard. I know from experience from the volume and that this could be a reversal long at some point. I went purely off the 15 minute chart for entry. My entry triggered and it started to go higher than it hit some heavy selling. I knew my risk amount was on the line but this is the name of the game. You win some and lose some. I told myself was sticking to my game plan and was willing to get stopped out if it took out the low of the day. Well it sold off but never hit my stop at Low of the day. Than it begin to eat away and kick up higher. I know that my game plan had changed if I got a big burst up that would be the selling point. Most likely shorts trapped that were covering. That's exactly what happened. Allot of times in trading you have to change your game plan in regards to targets but never in regards to RISK amount. Just as a quarterback has a plan and reads the defense he adjusts and goes down the field. The trade worked out nicely. Gap Edge Trading

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