Based on the current 15-minute chart for SNOW (Snowflake Inc.), we are observing a clear liquidity sweep and internal CHoCH (Change of Character) following a strong bearish impulse. Price has aggressively retraced and is now approaching a key supply zone near 222.00, which also aligns with the most recent internal high and potential inducement zone.
I anticipate price may push slightly above 222, tapping into remaining liquidity from late buyers before reversing. This aligns with a higher timeframe resistance, suggesting the up-move is corrective rather than impulsive.
From a structural standpoint:
The prior Break of Structure (BoS) confirms bearish intent.
Liquidity was taken both at the highs and lows, typical of distribution before a larger move.
The ideal short entry is upon confirmation of rejection from this 222+ level, targeting the demand zones around 217.00 and possibly as low as 211.00, respecting the higher timeframe bearish narrative.
Risk Management Tip: Wait for a bearish engulfing or clear rejection pattern on the lower timeframes within the 222–223.20 range before entering short. Set stop-loss slightly above the last high and manage position accordingly as price approaches each demand zone.
I anticipate price may push slightly above 222, tapping into remaining liquidity from late buyers before reversing. This aligns with a higher timeframe resistance, suggesting the up-move is corrective rather than impulsive.
From a structural standpoint:
The prior Break of Structure (BoS) confirms bearish intent.
Liquidity was taken both at the highs and lows, typical of distribution before a larger move.
The ideal short entry is upon confirmation of rejection from this 222+ level, targeting the demand zones around 217.00 and possibly as low as 211.00, respecting the higher timeframe bearish narrative.
Risk Management Tip: Wait for a bearish engulfing or clear rejection pattern on the lower timeframes within the 222–223.20 range before entering short. Set stop-loss slightly above the last high and manage position accordingly as price approaches each demand zone.
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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.
Looking for powerful AI trading signals? Visit ProSignal.ai and take your trading to the next level! or join our telegram channel at t.me/prosignalai
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.