CAKEUSDT - Trade setup: Bake the cake
Updated
Greetings!
I am looking to enter a nice 1:4 RR sell setup for CAKE that has some good potential ahead.
So, as you can see on my chart, we broke an important level on the 4H TF and afterwards we started to drop. That move was a price manipulation to get some sellers out of the game. After this 4H bearish wave the price started to pullback and it looks like it is preparing for another drop.
My TP areas will be around the 1H demand zones highlighted on the chart.
Trade details:
Entry: 3.922
SL: 4.035
TP1: 3.469
TP2: 3.320
RR: 1:4/1:5
Risk: 1% account balance
Trade with care. NFA
I am looking to enter a nice 1:4 RR sell setup for CAKE that has some good potential ahead.
So, as you can see on my chart, we broke an important level on the 4H TF and afterwards we started to drop. That move was a price manipulation to get some sellers out of the game. After this 4H bearish wave the price started to pullback and it looks like it is preparing for another drop.
My TP areas will be around the 1H demand zones highlighted on the chart.
Trade details:
Entry: 3.922
SL: 4.035
TP1: 3.469
TP2: 3.320
RR: 1:4/1:5
Risk: 1% account balance
Trade with care. NFA
Trade active
Trade closed: stop reached
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