CAKEUSDT Analysis April 26, 2022This is a great example of the simplicity of technical analysis and the power of the Engineer. We've become Bearish on PancakeSwap, CAKE , sooner than we anticipated. The three BUY signals fired on Thursday March 17, 2022 and within a month, we received three SELL signals on April 11. The Horizontal Resisitance Line at ($9.35) has formed a double top and we cannot break that Weekly Downtrend Line. We took some profit in that $9.50 - $10.00 range and then Sold with the three signals at ($7.60). And then CAKE started increasing in price again, making us second guess ourselves because we were not in a trade. A Buy 2 signaled and we became even more nervous, but we need two (2) signals to enter the trade. Good thing we followed our trading strategy because we have dropped pretty hard today. We would of been all over the place had we not followed our Strategy and Signals. Not Financial Advice...Trade with Confidence and Control.
