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SNAP - ATR is decreasing, time to buy

Long
NYSE:SNAP   Snap Inc
Referring the left side chart only
This is an hourly chart of SNAP backtested using my Script: "Relative Volume Strategy"

From backtested trades, we got stopped out two times in a row in this 70-75 price range. Still, this proves to be a significant price area.
The win-rate with the default settings is approx. 35%. Odds of winning next time should be in our favor (i.e. followed by a breakout).

It is assumed that the up-gap formed on July 22 (as a result of positive earnings ) is a breakaway gap. If it fills, then it will be a matter of risks associated with the overall market (not SNAP as a company individually).

We will put a stop loss near the orange support line.

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Other information (about the right side daily chart ): This setup is just for my reference to see price actions from a higher timeframe. At the bottom, I pasted some target prices. We note that the current price is below average target.

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