CAKE profit 10% after 1h SHORT signal - more to come?Please Like or Follow if you enjoyed this content.
UPDATE: The price dropped 10% after Short signal. This trade was a piece of cake! Price is below Ichimoku cloud and RSI is still bearish. Then again RSI and CBrown is forming a bullish divergence. CCI is oversold. A bounce up is likely. However if price drops here another leg, next support is around 10.10 USDT.
This analysis is made with my "Supertrend Ninja - Clean". It displays only the last few signals. Which gives it a clean look. When the background of the candlestick closes green (vertical line). It indicates a possible bullish (up)trend. A red background indicates a possible bearish downtrend. Currently CAKE is still in a downtrend on the 1h chart.
Supports and Resistances are highlighted as grey blocks. Profits can be taken at each grey block. Supports and resistances are automatically drawn using my indicator "Yo Show Me Some Support - and Resistances". Pun intended.
Thank you for reading.
Namasté 🙏
What Indicators Do I Use:
In the chart I am using my "Supertrend Ninja - indicator", which is a trend-following indicator (Green and red vertical line with arrows). When the background of the candlestick closes green (vertical line) with an upwards pointing pink arrow. It indicates a possible bullish (up)trend.
"Supertrend Ninja - Clean", a cleaner version of "Supertrend Ninja - indicator", which only displays the last few signals.
With each trade proper risk management is essential. Either by using my script "Trailing Stoploss Bottom Activation indicator", visible as grey dots below the candles. Which sends an alert, when current price goes below the previous candle low. Or using my "HA Trailing Stoploss Activation", the indicator below with green and red blocks. Or third option, exit when the Supertrend Ninja indicator displays a vertical red line with a downwards pointing black arrow. Remember, the first stop(loss) is always the cheapest stop.
Disclaimer: Ideas are for entertainment purposes only. Not financial advice. Your own due diligence is highly advised before entering trades. Past performance is no guarantee of future returns.
