Potential retrace to ~ $15 area, before a move higher ..
Updated
CAKE broke out of an Adam & Eve double bottom, and is now forming a bullish pennant on lower timeframes (6h and lower, and even somewhat on the daily chart).Though volume seems low, and the stochastic RSI is showing potential bearishness.
There's a good probability we break down out of the pennant, for a small correction before moving up towards previous ATH of ~$21.45 and then higher.
Trade active
Don't be surprised if we dip to ~13 as well..Trade closed: target reached
This trade worked out great! Lesson: Adam and Eve double bottom patterns seem pretty powerful.. same with topping patterns.
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*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
*Only Risk What You Can Afford To Lose*
*Just Ideas, Not Investment Advice*
*Trade At Your Own Risk*
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