Cake/USDT has recently completed a five-wave downward movement, indicating a potential trend reversal. The current outlook suggests a corrective move, either forming an ABC pattern or initiating a new bullish wave with five legs.
The highlighted Buy Back zone is a crucial area on the chart, providing a favorable opportunity for long positions. It serves as a strategic point for accumulation before the cryptocurrency makes a significant upward movement. Exercise caution against FOMO (Fear of Missing Out). Rushing into trades without a thorough understanding of market dynamics can lead to suboptimal decisions. Patience is key to successful trading.
The immediate target for this setup is the initial supply zone. To manage risk effectively, set the stop loss below the accumulation area. Respecting this level is crucial to mitigate potential losses in case of unexpected market movements.
Your appreciation of this post is greatly appreciated. Feel free to share your insights and thoughts in the comments. Thank you.
The highlighted Buy Back zone is a crucial area on the chart, providing a favorable opportunity for long positions. It serves as a strategic point for accumulation before the cryptocurrency makes a significant upward movement. Exercise caution against FOMO (Fear of Missing Out). Rushing into trades without a thorough understanding of market dynamics can lead to suboptimal decisions. Patience is key to successful trading.
The immediate target for this setup is the initial supply zone. To manage risk effectively, set the stop loss below the accumulation area. Respecting this level is crucial to mitigate potential losses in case of unexpected market movements.
Your appreciation of this post is greatly appreciated. Feel free to share your insights and thoughts in the comments. Thank you.
Trade active
Trade active
This is potential buy back area, but immediate mission for cake now is to test out the internal supply zone. We should expect a rejection towards there.Trade active
Note
CAKE perfectly tapped into the provided buyback zone and has been holding strong since. The newly identified buyback zone offers another great opportunity to add more if the chance arises.
📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
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.
📢Follow the official links only! Trade smart, stay safe! 🎯
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
Telegram: t.me/+m0IACMn0ul03OTFk
Forex zone: t.me/+piiPgrNtrulkNDk0
💎 Premium details: t.me/wcsepayment
📩 Promotion/Partnership: t.me/WESLAD
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.