This chart shows the price action of Snowflake Inc. (SNOW) on the 4-hour timeframe, with a combination of trendlines, support zones, a gap zone, and a projected bearish region marked in orange for visual guidance.
1. Overall Trend Context
The recent price movement shows a sharp decline from a previous high, followed by a retest attempt that failed and continued downward.
The chart uses dotted trendlines to outline potential directional paths.
2. Fib-Based Rejection Zone (Top Arc Area)
Above the current structure, semi-circular colored arcs (Fib-style fan/arc) highlight where price previously faced resistance.
This area shows:
A cluster of curved resistance levels
The point where the decline began
A strong rejection, confirming selling pressure at those levels
3. First Support Zone (Mid-Level)
Labeled “1st support”, this is the first major area where buyers might attempt to stabilize the price.
Located just beneath the current price
Highlighted in green and brown shading
Suggests a potential bounce zone if momentum slows
4. Second Support Zone (Deeper Level)
Below the first one, “2nd support” marks a wider structural support.
Represents a deeper potential retracement
This region aligns with previous price interactions
Acts as a more significant level if the downtrend continues
5. Gap Area (Earlier in the Chart)
A rectangular “GAP” box on the left shows an earlier price gap.
Price moved up too quickly, leaving an imbalance
Gaps often act as magnets for price
The dotted lines connect this gap to future possible interaction points
6. Bearish Zone (Lower Right Red Area)
A wide red wedge labeled “bearish” shows the projected zone where sentiment becomes significantly negative.
Positioned between ~186–200
Indicates a key downside level where the chart's structure turns into a clearly bearish outlook
Highlighted with red shading and dotted boundaries
7. Trendline Structure
Multiple orange dotted trendlines illustrate
Possible upward recovery paths
Possible continued downward pressure
Long-term diagonal supports and resistances extending into the future
These lines help visualize potential direction depending on how price reacts at each support.
1. Overall Trend Context
The recent price movement shows a sharp decline from a previous high, followed by a retest attempt that failed and continued downward.
The chart uses dotted trendlines to outline potential directional paths.
2. Fib-Based Rejection Zone (Top Arc Area)
Above the current structure, semi-circular colored arcs (Fib-style fan/arc) highlight where price previously faced resistance.
This area shows:
A cluster of curved resistance levels
The point where the decline began
A strong rejection, confirming selling pressure at those levels
3. First Support Zone (Mid-Level)
Labeled “1st support”, this is the first major area where buyers might attempt to stabilize the price.
Located just beneath the current price
Highlighted in green and brown shading
Suggests a potential bounce zone if momentum slows
4. Second Support Zone (Deeper Level)
Below the first one, “2nd support” marks a wider structural support.
Represents a deeper potential retracement
This region aligns with previous price interactions
Acts as a more significant level if the downtrend continues
5. Gap Area (Earlier in the Chart)
A rectangular “GAP” box on the left shows an earlier price gap.
Price moved up too quickly, leaving an imbalance
Gaps often act as magnets for price
The dotted lines connect this gap to future possible interaction points
6. Bearish Zone (Lower Right Red Area)
A wide red wedge labeled “bearish” shows the projected zone where sentiment becomes significantly negative.
Positioned between ~186–200
Indicates a key downside level where the chart's structure turns into a clearly bearish outlook
Highlighted with red shading and dotted boundaries
7. Trendline Structure
Multiple orange dotted trendlines illustrate
Possible upward recovery paths
Possible continued downward pressure
Long-term diagonal supports and resistances extending into the future
These lines help visualize potential direction depending on how price reacts at each support.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.