Cakeusd
CAKE Hello guys this is my trading idea about CAKE
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CAKEUSD ❕ the price under an upper boundary of channelCAKE is moving in the descending channel and is near the upper boundary of the channel.
Main MAs are bearish (1H TF)
Price and RSI have formed a bearish divergence (30m TF)
I think the asset may start to decline if after a test of the upper boundary it fixes under it and continues to move in the channel.
CAKEUSD ❕ the point of entry is closeCAKE is moving in an ascending channel.
Price is above liquidity and trading volumes show a slight deviation of interest in growth of the asset.
The 100MA has broken up the 200MA (1H TF)
TD Sequential has formed a reversal signal downwards (1H TF)
I expect that CAKE may retest the support level, and after fixing above it will continue to move in the direction of the channel.
Long Idea CAKEOn first observation this may not look like the best long position, but my reason for posting is that I think that it presents good risk reward.
Price and lagging strand are above the cloud, and have held well over the past several hours (1 hour time frame). Clearly defined stop loss here and also some obvious targets overhead, 3.264 being the best one in my opinion.
Best wishes to all!
CAKEUSD ❕ uptrendHaving been moving in a downward channel since April, the Cake reached the lower boundary and started to form an upward channel from there.
Price broke through the 50, 100 and 200 MAs on the 1H Timeframe.
Volatility has increased and volumes continue to rise.
I expect a small correction with a fix above the liquidity zone before continuing to rise.
CAKE - Easy 300% Move Pending... 🔥CAKE is one of the cleanest and easiest charts to read. We have a simple ABC correction and we completed the C wave recently.
We are now in bullish territory and looking for any opportunities to go long. We have a nice correction forming now and all we need to do is wait for a breakout and enter.
Trade Idea:
- Watch for breakout of the descending trendline
- enter with stops below the structure
- Targets: 17, 26, long term target 40
It is possible we may come back to test the structure to create a double bottom before moving so just be wary of that.
Goodluck!
Trading opportunity for short position-CAKEUSDTBased on technical factors there is a short position in :
📊 CAKEUSDT PancakeSwap
🔴 Short Now 9.18
🧯 Stop loss 10.20
🏹 Target 1 8.50
🏹 Target 2 7.50
🏹 Target 3 6.20
💸Capital : 1%
We hope it is profitable for you ❤️
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CAKE LONGS ACTIVE 📉📉📉📉 Expecting bullish price action on CAKE as price shifted the market strucutre from bearish into bullish, price reversed to fill the bullish imbalance and from there we have a clear area into 12/14 price area where price has a lot of price inefficiencies that should be closed.
What do you think ? Comment below..
CAKE LONGS ACTIVE 📉📉📉📉 Expecting bullish price action on CAKE as price shifted the strucutre from bearish into bullish making (bos move) price retraced back into the W1/D1 imbalance and from there we can see a push towards bearish orderblock area on the D1. Market Sentiment in crypto for now is in a EXTREME FEAR meaning there is a good buying opportunity.
What do you think ? Comment below..
CAKE BULLISHMarket just finished 1-5 Elliot wave bearish and broke out of an downtrend, going up it created high volume institutional candle, we are forecasting to see a pump up retrace to our institutional candle and rise to 15.80 zone.
Entry: 9.94 (After retrace)
Invalidation: 8.73 (recent HL below buy zone)
Target: 15.80
R/R Ratio: 4.84
CAKEUSDT (4H "LONG" 25%-50% PROFIT SPOT)Targets are : Short Term $7.15 - Mid Term $8.3 - Long Term $10
Reasons for long :
Huge volume !
Huge engulfing !
Ressistance breakout
Avarage true range
for sure there would be corrections dont get panic
if you buy it in spot market no need to use stoploss
GODBLESS