๐ SHORT 
CAKEUSDT.P from $2.030
๐ก Stop Loss: $2.058
โฑ 1H Timeframe
โก Trade Plan:
โ TheCAKEUSDT.P price previously formed a Falling Wedge pattern and three bottoms (Bottom 1, Bottom 2, Bottom 3), followed by a bounce.
โ However, the asset is trading below POC (Point of Control) at $2.504, which acts as strong resistance. If the price fails to hold above the current levels, a downward continuation is likely.
๐ฏ TP Targets:
๐ TP 1: $2.008
๐ฅ TP 2: $1.986
โก TP 3: $1.970
๐ข A close below $2.030 would confirm further downside movement.
๐ข POC at $2.504 is a key volume area acting as resistance.
๐ข Increasing volume on the decline signals strong seller activity.
๐ข Taking partial profits at TP1 ($2.008) is a smart risk-management strategy.
๐จCAKEUSDT.P remains under selling pressure โ monitoring for confirmation and securing profits at TP levels!
CAKEUSDT.P from $2.030๐ก Stop Loss: $2.058
โฑ 1H Timeframe
โก Trade Plan:
โ The
CAKEUSDT.P price previously formed a Falling Wedge pattern and three bottoms (Bottom 1, Bottom 2, Bottom 3), followed by a bounce. โ However, the asset is trading below POC (Point of Control) at $2.504, which acts as strong resistance. If the price fails to hold above the current levels, a downward continuation is likely.
๐ฏ TP Targets:
๐ TP 1: $2.008
๐ฅ TP 2: $1.986
โก TP 3: $1.970
๐ข A close below $2.030 would confirm further downside movement.
๐ข POC at $2.504 is a key volume area acting as resistance.
๐ข Increasing volume on the decline signals strong seller activity.
๐ข Taking partial profits at TP1 ($2.008) is a smart risk-management strategy.
๐จ
CAKEUSDT.P remains under selling pressure โ monitoring for confirmation and securing profits at TP levels!
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Disclaimer
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๐ฅSubscribe to our Telegram channel๐ฅ
๐ฅEvery day 1 FREE signal ๐ฅ
๐ tinyurl.com/GoToMoriartyTradeGlobal
๐ฅEvery day 1 FREE signal ๐ฅ
๐ tinyurl.com/GoToMoriartyTradeGlobal
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.