👻 SNAP just had a breakout, it has also generally been a good play during COVID, and it has some exciting news too with SNAP opening up their platform to outside developers for the first time. What we are looking for here is a long setup off a retest of this major price pivot point.
Resource: www.theinformat...t-echoes-wechat?shared=954...
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1. Fractal Trend is showing an uptrend (Aqua colored bars) on the 3-hour timeframe. This uptrend has been true for a while now and is especially notable now that we have a breakout of the previous range.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua colored lines) and/or bullish S/R levels plotted by Directional Bias (Aqua colored lines).
3. The goal here is to take a long position at the S1 bullish S/R flip. This level represents SNAP retesting the previous range highs (which are themselves a reaction to the range lows back in March) before moving up.
4. Our stop loss is placed just below S1, with the logic being that if previous resistance doesn't hold as support that immediate continuation to the upside becomes very unlikely.
5. Our target is the R2 bearish orderblock cluster and gap formed back in March during the top at that point.
6. If S1 doesn't hold, then S2 and S3 offer support levels for the bulls. S2 may be able to keep the uptrend in play, while the S3 expected S/R flip is simply an important level to watch if we get there.
Let's snap some cash bulls!
Resource: www.theinformat...t-echoes-wechat?shared=954...
✨ Drop a comment asking for an update, we do NEW setups every day! ✨
Like, Comment & Follow to help the community grow 🎉🎉
---
1. Fractal Trend is showing an uptrend (Aqua colored bars) on the 3-hour timeframe. This uptrend has been true for a while now and is especially notable now that we have a breakout of the previous range.
2. With this strategy, we are looking for long setups in an uptrend and as such want to enter long on retests of bullish order blocks plotted by Orderblock Mapping (Aqua colored lines) and/or bullish S/R levels plotted by Directional Bias (Aqua colored lines).
3. The goal here is to take a long position at the S1 bullish S/R flip. This level represents SNAP retesting the previous range highs (which are themselves a reaction to the range lows back in March) before moving up.
4. Our stop loss is placed just below S1, with the logic being that if previous resistance doesn't hold as support that immediate continuation to the upside becomes very unlikely.
5. Our target is the R2 bearish orderblock cluster and gap formed back in March during the top at that point.
6. If S1 doesn't hold, then S2 and S3 offer support levels for the bulls. S2 may be able to keep the uptrend in play, while the S3 expected S/R flip is simply an important level to watch if we get there.
Let's snap some cash bulls!
