How do you do dear followers,
*Mars Signals Team wishes you high profits*
This is a one-day-time frame analysis for CAKEUSDT
Here we see R2 and R1 as our resistance areas that demonstrate the price was not able to rise at different points. S1 is a long-term support area at the bottom of this chart that has the well support of price in it. As we see, the support of price at S1 in the past made a great increase for it up to R2. But aftr some rejections by this line, the price was able to be supported at our 4-hour support line (the white line) and then it lost the support and faced a sveres decline toward S1. Presently, we have the price fluctuating in S1 area and by the we expect it to have a little fall to the bottom of this area. Then by providing us some confirmation candles for the purpose of a rise, it would face an increase up to higher amounts. When the price is on the rise at S1, it is suggested to put your trade order and enter trading. Please do not forget to wait for some signs such as confirmation candles in order to make sure of what will be your next movement and then act wisely. We suggest you to put your stop-loss point based on your amount of loss that you can risk at and try to experience more logical trades.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Wish you the best
*Mars Signals Team wishes you high profits*
This is a one-day-time frame analysis for CAKEUSDT
Here we see R2 and R1 as our resistance areas that demonstrate the price was not able to rise at different points. S1 is a long-term support area at the bottom of this chart that has the well support of price in it. As we see, the support of price at S1 in the past made a great increase for it up to R2. But aftr some rejections by this line, the price was able to be supported at our 4-hour support line (the white line) and then it lost the support and faced a sveres decline toward S1. Presently, we have the price fluctuating in S1 area and by the we expect it to have a little fall to the bottom of this area. Then by providing us some confirmation candles for the purpose of a rise, it would face an increase up to higher amounts. When the price is on the rise at S1, it is suggested to put your trade order and enter trading. Please do not forget to wait for some signs such as confirmation candles in order to make sure of what will be your next movement and then act wisely. We suggest you to put your stop-loss point based on your amount of loss that you can risk at and try to experience more logical trades.
Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions.
Wish you the best
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.