Actually, I staked the coin on Pancake Swap Platform and my coins have been locked for many months without other opportunity. So, I have to find an opportunity on trading instead. I apply my favorite setup for short-term trading. The first TP is expected with limited risks. Good Luck, everybody.
BINANCE:CAKEUSDT
This short term goal should be achievable within 1-3 months. I would suggest having 50% TP at $5.33, a 21.5% gain that should happen in less than a month. You can put another 50% of remaining amount at $8.33 as next target, or 100% of remaining amount which I strongly recommend because price will be pulled back and you can re-enter.
Summary:...
CAKE is moving in a downward channel.
Trading volumes are down.
Price has fallen below 100MA 1H.
I expect the price to correct, but after fixing under the resistance level, the price will continue to fall.
this coin was one I was interested in last bull run with alt coins big on bull runs package sees a lot of traffic with that. being said circulating supply keeps going up which they are trying to stop with big burns happening overall cake needs to break 5.3 mark falling to do so we are still in the bearish movement
Having 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 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
-...
Pancake swap on BSC gonna fly DEFI due for a run and the apy in defi the only place to go w reduced staking rewards and returns in some of these more common avenues. GL not financial advice this may still see downside in June out of mid may as i assume all markets will, but the upside is here i also really like the look of WAGYU swap and a variety of defi as a...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (8.55).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CAKEUSDT is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (8.55).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CAKEUSDT is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a...
Testing/tracking elliot wave theory. Please do not trade off idea without S/L. Not financial advice.
Link to previous chart:
The bottom looks like its in and we should be working towards wave (3).
