CAKEUSD
CAKE / US Dollar (calculated by TradingView) BINANCE:CAKEUSD
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
– enter with stops below the structure
– Targets: 17, 26, long term target 40
It is possible we may come back to test the structure to create a double bottom before moving so just be wary of that.
