CAKE Breakdown – Major Bearish Move Incoming?
#CAKE has broken a critical support level after forming a Triangle Pattern on the 1-hour timeframe.
🔻 Key Observations:
✅ Triangle Breakdown – The price failed to sustain inside the pattern.
✅ Support Break – A major support level has been breached, confirming the bearish structure.
✅ Retest Zone – Price may retest the broken support before further decline.
🎯 Trading Plan:
🔹 Entry: Short at CMP or on a retest of support.
🔹 Target: Next support zone.
🔹 Stop-Loss: Above the retest level (tight risk management).
💡 What do you think? Will #CAKE continue its downtrend or surprise us with a reversal? Drop your thoughts in the comments! 👇👇
📊 Like & follow for more real-time market insights! 🚀🔥
🔻 Key Observations:
✅ Triangle Breakdown – The price failed to sustain inside the pattern.
✅ Support Break – A major support level has been breached, confirming the bearish structure.
✅ Retest Zone – Price may retest the broken support before further decline.
🎯 Trading Plan:
🔹 Entry: Short at CMP or on a retest of support.
🔹 Target: Next support zone.
🔹 Stop-Loss: Above the retest level (tight risk management).
💡 What do you think? Will #CAKE continue its downtrend or surprise us with a reversal? Drop your thoughts in the comments! 👇👇
📊 Like & follow for more real-time market insights! 🚀🔥
Note
This Trade is still valid. Wait for the break and closes the Candle below new Support Level 2.3. then take a short trade with mention SL and TPs. 
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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.
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.