Hey traders! 👋
#CAKE is currently consolidating within a symmetrical triangle – a classic setup that often precedes a big move! The price action is tightening, and momentum is building. 📈
🔍 What We're Watching:
Pattern: Symmetrical Triangle
Bias: Bullish, with potential for upside breakout
Key Resistance: 2.65
Entry Plan:
We'll wait for a confirmed breakout above resistance, followed by a clean retest of the broken structure. If the retest holds, that’s our cue to go long!
✅ Risk Management: Stop-loss just below the retest zone. Target based on measured move of the triangle.
🧠 Why This Setup Matters:
Triangle breakouts often lead to strong continuation moves, especially in trending markets. If
BTC and the broader altcoin market remain bullish, #CAKE could cook up a nice rally!
💬 Let me know your thoughts! Are you bullish on #CAKE too?
💡 Drop your targets in the comments!
📈 Like & follow for more chart setups and trade ideas.
#CAKEUSDT #CryptoTrading #TriangleBreakout #Altcoins #TradingView #PriceAction #TechnicalAnalysis #BullishBreakout #CryptoSetup #TradersJournal
#CAKE is currently consolidating within a symmetrical triangle – a classic setup that often precedes a big move! The price action is tightening, and momentum is building. 📈
🔍 What We're Watching:
Pattern: Symmetrical Triangle
Bias: Bullish, with potential for upside breakout
Key Resistance: 2.65
Entry Plan:
We'll wait for a confirmed breakout above resistance, followed by a clean retest of the broken structure. If the retest holds, that’s our cue to go long!
✅ Risk Management: Stop-loss just below the retest zone. Target based on measured move of the triangle.
🧠 Why This Setup Matters:
Triangle breakouts often lead to strong continuation moves, especially in trending markets. If
BTC and the broader altcoin market remain bullish, #CAKE could cook up a nice rally!💬 Let me know your thoughts! Are you bullish on #CAKE too?
💡 Drop your targets in the comments!
📈 Like & follow for more chart setups and trade ideas.
#CAKEUSDT #CryptoTrading #TriangleBreakout #Altcoins #TradingView #PriceAction #TechnicalAnalysis #BullishBreakout #CryptoSetup #TradersJournal
Trade active
Trade is active, CAKE is break the resistance level and also retest the resistance. that is the confirmation of the bullish move. 
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.
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.