CAKE is one of the cleanest and easiest charts to read. We have a simple ABC correction and we completed the C wave recently. We are now in bullish territory and looking for any opportunities to go long. We have a nice correction forming now and all we need to do is wait for a breakout and enter. Trade Idea: - Watch for breakout of the descending trendline -...
As you see in the 4H time frame, we are in a downtrend and price is moving inside a triangle pattern . Currently, price is rejected from the triangle upper side and failed to break the last major high. On the other hand, it is moving on the little ascending trend line . But, since we are facing downside pressure and the main trend is bearish , we can expect a...