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CAKE / TetherUS PERPETUAL CONTRACT

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CAKEUSDT.P trade ideas

CAKEUSDT AnalysisHello friends. Please support my work by clicking the LIKE button(If you liked).Thank you! Everything on the chart. open pos: market and lower target: 20 - 28 - 35 after first target reached move ur stop to breakeven stop: ~under 12 (depending of ur risk). ALWAYS follow ur RM . risk/reward 1 to 5 risk is justified Good luck everyone! Follow me on TRADINGView, if you don't want to miss my next analysis or signals. It's not financial advice. Dont Forget, always make your own research before to trade my ideas! Open to your questions or suggestions.
Long
by trytofeelpositive
13
Time to get fat on some $CAKEBINANCE:CAKEUSDT I've been holding a small bag of $CAKE on pancake swap while it has been consolidating. It looks like it might finally be following in $BNB's footsteps. BNB has been soaring the past few weeks and it may finally be time for it's dAPPs to follow suit. I am adding more CAKE to my pancake swap bag to gain the extra 70% APY while this swing trade develops. We have basically seen CAKE consolidate for the past 70 days, let's see if it can gain any momentum. Entry: $20 Resistance: $21-21.50, if we can push over these lvls it can start to run again. Plan: swing CAKE with PT's beginning around $24.30ish with hopes of seeing momentum to blow past $30. SL: would start to cut losses if we dip below $19 again, I have been staking for a while so I can afford to hold longer. I will scale out at support levels below $19 looking for first exit if we drop below $18.50 just to be conservative.
Long
by DOpeTrades
2
Let them eat CAKE!Right now we could see a nice falling wedge after a bearish Crab Harmonic Pattern that after it reached the pcz, retraced to the .618 fib level from which it has been holding as support for 6 weeks now. Yes it struggled at the 200 day sma but it never dumped and created alot of support by doin so. Rn Cake is perfect for a trade because its very easy to manage risk at these levels. A close below 17.80$ could signal more downside on CAKEUSDT but if it manages to break the supply line of the potential falling wedge it could end this consolidation/accumulation at high levels and sideways movement with a big bullish engulfing candle in the next days or even hours. Stop losses are manual because we always want a candle close confirmation b4 selling. Today i learned a valuable TA Lesson i used the same chart for the last months for CAKEUSDT. I always studied the same CAKEBUSD chart which was cluttered with drawings which made me biased. i never hid all my drawing or looked at a clean chart which was a distraction from developments that happened on the Chart. From now on i will take a fresh look at stuff and also focus on the most important drawings and start hiding stuff more often while charting.
Long
by luyestefan