S3 CBRA bearish setup in SNOWSnowflake, Inc.BATS:SNOWA22_CBRA🔻 S3 Pattern (Bearish) — what it is The S3 pattern represents a continuation breakdown structure. It typically appears when: ▶️ price is already in a downtrend ▶️ a weak bounce fails at resistance (in this case the EMAs confluence) ▶️ and sellers reassert control In simple terms: “A failed recovery — and trend continuation resumes.” SNOW is currently trading in a clear downtrend, and recent price action suggests continuation lower after a failed attempt to reclaim key levels. From a technical standpoint: ▶️ Price is trading below the 20/50 week EMAs → bearish structure ▶️ Recent bounce failed at EMA confluence, which is acting as dynamic resistance ▶️ Fast EMA crossing down Slow EMA ▶️ Price is now breaking back down after that rejection ▶️ Volume profile shows acceptance below the POC, reinforcing downside pressure ▶️ RSI remains weak and is not showing any meaningful divergence Structurally bearish — and failing at resistance. ⸻ 📊 Context from the chart Looking left: ▶️ The breakdown from the prior highs shifted the structure from bullish to bearish ▶️ Since then, rallies into the EMA zone have been consistently sold ▶️ Current price action is forming lower highs and lower lows ▶️ The market is accepting lower value, not rejecting it ⸻ 🧬 Framework note This analysis builds on concepts from an earlier version of my CBRA framework (originally published for binary options), adapted here to analyze equities and price structure across timeframes: 🎯 Trade idea This is a trend-following short setup. The idea: ▶️ short the failed bounce and breakdown continuation ▶️ use the EMA / resistance zone as invalidation ▶️ target continuation toward lower value areas ⸻ 🧠 Summary ⤵️ Trend = bearish 🔁 Condition = failed bounce 📉 Setup = S3 continuation breakdown ↘️ Bias = downside continuation Happy pip hunting!