How does Snap Trades work?
Quick answerIt trades the opening range on the 15-minute chart: the first candle (9:30–9:45 New York) sets the Snap Range, and the first close out of it, the way the opening candle went, before noon, on a stock in play, is the call.
The details
- The Snap Range: the high and low of the day's first 15-minute candle, 9:30 to 9:45 AM New York.
- The side: the opening candle's. Closed up: a close above the range high is the Snap Long. Closed down: a close below the range low is the Snap Short. A break the other way is not the trade.
- A stock in play: its first 15 minutes traded at least 1.5× their usual volume (the last 14 sessions). On an ordinary open, the Snap is drawn but not called.
- Before noon: entries until 12:00, one trade a stock a day.
The stop, the target and the close: the trade.
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