CAKEUSDT.P trade ideas
CAKEUSDT - BULLISH SIGNAL UPDATE!!As you all know, CAKE is not performing well from last 3 months and according to the Chart patterns, Decending Bullish Flag is formed, Breakout formation and also indicators giving bullish signal.
Short term Trade, DYOR Before taking trade, as i'm not responsible for your loss.
RISK FACTORS:
Market/ BTC CRASH
Happy Trading :)
Good Luck!
If you like my idea, please support:
Binance Smart Chain ( BSC ): 0x69Ea86D0f6B762fC36A322b0C833D2bd04534b3d
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.
PancakeSwap (CAKE/USDT) technical analysisPrice was moving in a steep downtrend channel; Now, the price has broken the channel and it looks like it's ready to change the direction to an uptrend. Although, the price might test the long horizontal resistance line one more time; be ready. If the uptrend wave starts, the first and second targets are the bottom and the upper side of the triangle, respectively. After that, the projection of the price target will be an area around the thick uptrend line.
Binance: CAKE-USDT Buy / Long D1Binance: CAKE-USDT Buy / Long D1
Entry: 14.2$
Stoploss: D1 close below 11.5$
Target: 26$ and hold longtern 40$
Pancakeswap is a diverse product set that turns Pancakeswap into a true DeFi station on the Binance Smart Chain ecosystem.
Trade: Trade and generate LP tokens to provide liquidity.
Farms: Yield Farming with an extremely large number of pools (the liquidity center of the BSC system).
Pools: Stake CAKE to receive CAKE or other tokens in the BSC system.
Predictions: A mechanism that predicts the rise and fall of asset pairs over a certain period of time.
Lottery: Lottery game on Pancakeswap.
Collectibles: Collect NFT items.
Team Battle: A program to participate in trading between groups and ranked based on trading volume.
IFO: Initial Farm Offering is the IDO Platform for new projects on the BSC system.