SNAP / Snapchat looking for a correction.
Updated
After huge gapup this morning similar to previous gapups SNAP is preparing for a huge correction.
- SPY / QQQ and broader market is currently setting up for an atleast smaller correction. A bigger correction is possible (the case if brexit discussion leads to more confusion etc etc.)
- If correction would come to the whole market SNAP is a great tool to short downwards since it has seen a big positive corrective move lately.
- Chart is 15min. So this is really only a day trade to swing trade but expandable with pulling the SL properly to the downside. Be aware though that AMD is really volatile.
- First Targets in the chart / If the whole market is up for a correction after this week, things can become really interesting on SNAP.
- Always have a SL with SNAP ;-)
GL
- SPY / QQQ and broader market is currently setting up for an atleast smaller correction. A bigger correction is possible (the case if brexit discussion leads to more confusion etc etc.)
- If correction would come to the whole market SNAP is a great tool to short downwards since it has seen a big positive corrective move lately.
- Chart is 15min. So this is really only a day trade to swing trade but expandable with pulling the SL properly to the downside. Be aware though that AMD is really volatile.
- First Targets in the chart / If the whole market is up for a correction after this week, things can become really interesting on SNAP.
- Always have a SL with SNAP ;-)
GL
Note
Little to no development. Looking for more downside volume to come.Note
* waiting for a catalyst.Trade active
- SNAP took a first hit..Note
Perfect point to enter again.Gap below is waiting for you :-)
Note
And the gap much further away on the daily chart.Trade active
We nocked on the first gapfill area on wednesday. Let's see what today brings :-).
Markets on the move!
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