MBOT Gap Down 15 minute setup short.
MBOT has been a big runner up on the daily chart and today it opened gapping down which put it on the radar for a short setup. The 15 minute chart played out nicely waiting for the 3rd 15 minute bar to go inside and red thus trapping longs. This gave a perfect short entry which rewarded over $1.00 on the gains. The risk was only .60. See the chart below. This setup followed the Advanced Gap Course where we focus on the 15, 30 and 60 minute setups.