🔹 Market Structure & Trend
#Cake is currently in a strong uptrend, forming higher highs (HHs) and higher lows (HLs). This is a classic sign of bullish momentum.
🔹 Key Breakout Zone
We are watching the resistance level: 2.950, which aligns with previous HHs. A breakout above this level could trigger another strong rally.
🔹 Trade Plan & Entry Strategy
Breakout Entry: Above 2.950 with confirmation
Stop Loss: Below recent HL for proper risk management
Targets: First TP at 3.220, extended TP at 3.416
🔹 Indicators & Confirmation
RSI: Above 50, indicating bullish strength
Volume: Increasing, signaling strong participation
Moving Averages: Aligning for an uptrend
What’s Your Take?
Do you think #Cake will break out or face resistance? Drop your analysis in the comments!
#Cake is currently in a strong uptrend, forming higher highs (HHs) and higher lows (HLs). This is a classic sign of bullish momentum.
🔹 Key Breakout Zone
We are watching the resistance level: 2.950, which aligns with previous HHs. A breakout above this level could trigger another strong rally.
🔹 Trade Plan & Entry Strategy
Breakout Entry: Above 2.950 with confirmation
Stop Loss: Below recent HL for proper risk management
Targets: First TP at 3.220, extended TP at 3.416
🔹 Indicators & Confirmation
RSI: Above 50, indicating bullish strength
Volume: Increasing, signaling strong participation
Moving Averages: Aligning for an uptrend
What’s Your Take?
Do you think #Cake will break out or face resistance? Drop your analysis in the comments!
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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.