SNAP Short Watch by Studying the Volume
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Volume is everything. Tradingview does not show the full volume of SNAP compared to other charting packages. It may be best to watch our youtube video here to see the complete volume explanation.
youtu.be/unNOlqfJbao
In a nutshell, SNAP is overall still in a downtrend and is giving up the volume here. The potential for ending volume as what triggered this morning is strong. Confirmation would be a break of today's low with a stop over today's high. Intraday confirmation has already occured, though daily confirmation is always stronger. At this point, the burden of proof is not giving enough reasons to add to any longs, but is not yet confirming sell. A tight hold is in place if still long, and if no position, a watch to the short side is recommended.
Volume is everything when trading countertrend breakouts. If you don't understand this, watch our CTP Basics 10 minute video on volume. Without the right foundation, you will never get to a spot where you can build your technical self up. GL.
customtradeplan.com/
Volume is everything. Tradingview does not show the full volume of SNAP compared to other charting packages. It may be best to watch our youtube video here to see the complete volume explanation.
youtu.be/unNOlqfJbao
In a nutshell, SNAP is overall still in a downtrend and is giving up the volume here. The potential for ending volume as what triggered this morning is strong. Confirmation would be a break of today's low with a stop over today's high. Intraday confirmation has already occured, though daily confirmation is always stronger. At this point, the burden of proof is not giving enough reasons to add to any longs, but is not yet confirming sell. A tight hold is in place if still long, and if no position, a watch to the short side is recommended.
Volume is everything when trading countertrend breakouts. If you don't understand this, watch our CTP Basics 10 minute video on volume. Without the right foundation, you will never get to a spot where you can build your technical self up. GL.
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