SNAPCHAT $SNAP Gap Down / Gap Edge Trading

May 11, 2017

Whenever you see a stock gap below the entire price of the stock it's bearish.  Why?  Because everyone who ever owned the stock is sitting in a negative position.  I typically don't trade the open and as you know I like to trade off the 30 min chart.  I saw a perfect setup on SNAP on the 30 min chart and I placed my order and once it hit the trigger there was massive volume at that price.  It felt good.  I let it trade away and it formed an area where I could place a second trade to the one I already had running.  This trade would be treated with a tighter stock and had it's own risk.  It traded nicely into my target and it was a great trading day.  




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